The central bank of Nigeria has reported for Cash Strapped as banks borrowed over three hundred and thirty-eight billion naira in January to bridge their funding gap.
According to the bank data, figures for January on Standing facilities window operation showed that the banks continued to utilize the Standing Lending Facility and Deposit Lending Facility in the sector.
Figures from the CBN’s monthly report for January on ‘Standing facilities window operation’ showed that the banks continued to utilize the Standing Lending Facility and Deposit Lending Facility in the sector.
Following the transaction analysis, shows that the Total Standing Lending Facility contracted considerably to over three hundred and thirty-eight billion naira from over seven hundred and eleven billion naira in December 2021.
Meanwhile, the Director, Corporate Communications, for CBN, Mr. Osita Nwanisobi, has not respond to the seeking comments and questions, likewise bank officials.
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