CBN loans to banks drop by 13% to N207bn

…Naira in circulation hits N1.66trn

The Central Bank of Nigeria (CBN) loan to banks rose sharply last week by 13 per cent to N207 billion.

Business247 online news reveal that lending to banks through the CBN’s Standing Lending Facility (SLF) dropped from N239 billion the previous week to N207 billion at the close of business on last Friday.

This implies that few banks last week depend on CBN loans to meet their cash obligations.  However, the amount of Naira in circulation according to CBN data hits N1.66 trillion in July, 1.2 per cent below N1.68 trillion in June.