Banking System Liquidity Declines by 66%, NOFR Unchanged Short-term benchmark money market rates remained relatively stable despite a sharp decline in banking system liquidity on Thursday. The financial system liquidity tightened after the Central Bank of Nigeria (CBN) carried out its open market operation, where…
Nigeria’s foreign reserves increased to $54.410 billion following the latest round of FX inflows into the local economy, with more than 99% of the credit balance staying liquid.
The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N41,444.89 billion in the second quarter of 2026.
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Nigeria’s gross foreign reserves topped $54 billion, the highest on record since 2008, according to data obtained from the Central Bank portal.
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Nigerian government has continued to reduce spot rates on short-term investment securities amid improved macroeconomic conditions.
Money market short-term funding rates ease on one side amid a bloated liquidity balance in the financial system. The overnight lending rate declined 3 basis points, but the repo rate remained unchanged at 22%.
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