Commercial Banks in Nigeria borrowed N15.95 billion from the Central Bank of Nigeria (CBN) in the Standing Lending Facility window in November, 2020.
The CBN, which confirmed this in its latest monthly economic report for November, maintained that the Deposit Money Banks have, with this, continued to reduce their borrowings due to excess liquidity in the system.
Part of the report read, “Deposit Money Banks and merchant banks continued to access the standing facilities window to square liquidity positions in November 2020.
“The trend at the CBN standing facilities window showed more frequency at the Standing Deposit Facility window, compared with the Standing Lending Facility, due to the banking system liquidity surfeit.
“Applicable rates for the SLF and SDF stood at 12.5 per cent and 4.5 per cent, respectively.
“Total request for the SLF granted from November 1-26, 2020 was N15.95bn, made up of N3.15bn direct SLF and N12.79bn Intraday Lending Facilities converted to overnight repo.”
The report stated that daily average was N2.66bn in six transaction days from November 1-26, 2020.
It stated that the total interest earned was N0.09bn.
Total SDF granted, during the review period, was N726.98bn with a daily average of N38.26 billion in 19 transaction days from November 1-26, 2020.
Daily request ranged from N31.30bn to N45.1bn.
Cost incurred on SDF in the month stood at N0.12bn
FULL LIST OF BANKS IN NIGERIA
This is a list of commercial banks with International Authorization in Nigeria, arranged alphabetically:
1. Access Bank Plc
2. Fidelity Bank Plc
3. First City Monument Bank Limited
4. First Bank of Nigeria Limited
5. Guaranty Trust Bank Plc
6. Union Bank of Nigeria Plc
7. United Bank for Africa Plc
8. Zenith Bank Plc
This is a list of commercial banks with National Authorization in Nigeria, arranged alphabetically:
1. Citibank Nigeria Limited
2. Ecobank Nigeria|Ecobank Nigeria Limited]
3. Keystone Bank Limited
3. Polaris Bank Limited. The successor to Skye Bank Plc.
5. Stanbic IBTC Bank Plc
6. Standard Chartered
7. Sterling Bank Plc
7. Titan Trust Bank Limited
8. Unity Bank Plc
19. Wema Bank Plc
This is a list of commercial banks with Regional Authorization in Nigeria, arranged alphabetically:
1. Globus Bank Limited
2. SunTrust Bank Nigeria Limited
3. Providus Bank Limited
This is a list of non-interest banks in Nigeria, arranged alphabetically:
1. Jaiz Bank Plc
2. TAJBank Limited
This is a list of Microfinance Banks in Nigeria:
1. Mutual Trust Microfinance Bank
2. Finca Microfinance Bank Limited
This is a list of Online-Only Microfinance Banks in Nigeria:
1. Kuda Bank
2. Rubies Bank
3. VFD MFB
This is a list of merchant banks in Nigeria, arranged alphabetically:
1. Coronation Merchant Bank
2. FBNQuest Merchant Bank
3. FSDH Merchant Bank
4. Rand Merchant Bank
5. Nova Merchant Bank.