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Views: Visits 15 CBN As deposit balance declines 57% Cost  of funds hits 2yrs high By Babajide Komolafe In apparent reflection of the intense scarcity of funds that prevailed in the interbank money market in April, banks’   borrowing from the Central Bank of Nigeria (CBN) rose by 174 per cent to N2.48 trillion from N904.6 billion in March. The banks’ deposits with CBN also declined significantly. Banks borrow from the CBN through its Standing Lending Facility (SLF)  to fund short term liquidity cash shortfall. They, however, deposit their idle cash in  the apex bank’s Standing Deposit Facility (SDF). Financial Vanguard  findings in the CBN’s data release show that while banks’ borrowing through the SLF rose sharply by 174 per cent in April, their   deposits with the apex bank through   the SDF fell by 57 per cent to N169.74 billion in April from N392.37 billion in March.

Zedcrest securitiesFinancial derivatives companyCentral bankCordros securitiesStanding lending facilityStanding deposit facilityFinancial vanguardOpen market operationOpen buy backOvernight lendingZedcrest securities limitedCordros securities limitedMonthly economicநிதி வழித்தோன்றல்கள் நிறுவனம்மைய வங்கிநின்று கடன் வசதி