{
  "id": 19344369,
  "title": "CBN returns N2.87 trillion to banks, but borrowing costs remain high",
  "url": "https://urgent.news/2026/11/10/cbn-returns-n2-87-trillion-to-banks-but-borrowing-costs-remain-high",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-10T14:02:07.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/11/10/cbn-returns-n2-87-trillion-to-banks-but-borrowing-costs-remain-high/"
  },
  "original_language": "en",
  "account": "The Central Bank of Nigeria (CBN) returned approximately N2.87 trillion to banks in October through Open Market Operations (OMO), while N9.051 trillion in older bills matured. This resulted in an increase of about N2.67 trillion in bank liquidity. Despite the additional cash, borrowing costs for banks remained relatively unchanged, with overnight loan rates staying at 20% and 20.38%. The benchmark rate set by the CBN is still at 23%. The average return on Treasury bills decreased to 17.88% due to oversupply, with the Debt Management Office offering N800 billion but only selling N71.16 billion. Analysts predict that about N13.79 trillion will flow into the banking system in November from maturing securities and government payments. The CBN can either sell new OMO bills to absorb this cash or allow it to remain with banks. An increase in OMO sales could indicate a temporary decrease in borrowing costs, but actual reductions in loan rates and inflation remain uncertain as bank lending practices evolve slowly.",
  "summary": "In October the Central Bank of Nigeria sold N6.182 trillion in new Open Market Operation (OMO) bills, while N9.051 trillion in older bills matured. The difference, about N2.87 trillion, flowed back to the banks. The post CBN returns N2.87 trillion to banks, but borrowing costs remain high appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}