SLF grant by CBN stands at N550.12bn in January


Central Bank of Nigeria (CBN) aggregate Standing Lending Facility (SLF) granted in January this year stood at N550.12 billion.
The figure reflected a daily average of N28.95 billion, compared with N869.98 billion and a daily average of N43.40 billion recorded in the preceding month.

The apex bank recent economic report said that the total amount granted indicated a decline of 36.8 per cent while the aggregate Standing Deposit Facility (SDF) stood at N11,965.22 an increase of 170.1 per cent over the level in the preceding month.
The development reflected the liquidity condition in the market during the review period

The report however showed that currency-in-circulation fell by 10.6 per cent to N1.588 trillion in the review month, against the increase of 13.1 per cent at the end of the preceding month.

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The CBN report said that growth reflected the 7.9 and 2.6 per cent decline in its currency outside banks and demand deposit components, respectively.
It said that total deposits at the CBN amounted to N6.881trillion, indicating a decline of 2.1 per cent below the level at the end of the preceding month.
The decline according to CBN was as a result of the fall in Federal Government deposit and deposit by “others”, which more than offset the increase in deposit money banks deposit.

Of the total deposits, it said the percentage shares of the Federal Government, banks and “others” were 38.9, 55.5 and 5.6 per cent, respectively while reserve money (RM) fell by 2.8 per cent to N5.404 trillion at the end of the review month, reflecting the trends in currency-in-circulation.
The report further said that the total assets and liabilities of the discount houses stood at N119.6 billion within the period under review, showing a decline of 10.6 per cent below the level at end-December 2013.