Commercial banks’ borrowing from the Central Bank of Nigeria (CBN) surged by 204.71 percent in four months, signalling that they faced a liquidity squeeze in the period as the country’s demonetisation drive triggered chronic cash shortages.
Data from the CBN showed that deposit money banks’ (DMBs) borrowing from the central bank’s Standing Lending Facility (SLF) increased to N240.57 billion on Wednesday from N78.95 billion as of December 12, 2022, when new naira notes were launched by President Muhammadu Buhari.
