The amount of cash borrowed by banks from the Central bank of Nigeria, CBN’s Standing Lending Facility (SLF) on a Month-on-Month (MoM) basis has dropped by 14 per cent from ₦528.15 billion in January 2023 to ₦453.7 billion in February 2023.
The SLF is a Monetary Policy Rate (MPR) at which Deposit Money Banks (DMBs) and discount houses can borrow money from the apex bank at a pre-specified rate.