A sustained liquidity surplus in Nigeria’s banking system has continued to suppress volatility in short-term interest rates, reversing previous trends in the money market. Local deposit money banks have shifted towards depositing excess funds at the Central Bank of Nigeria’s (CBN) Standing Deposit Facility (SDF), reducing reliance on the Apex Bank’s Standing Lending Facility (SLF). … Continue reading Banking System Liquidity Tightens, Rate Swings Moderate