Nigerian banks

Nigeria's Socio-Economic Rights and Accountability Project (SERAP) has asked the Central Bank of Nigeria to account for ₦1.63 trillion and $6.23 million. The group is seeking a public explanation of how the funds were managed, pressing the apex bank for transparency over public money. The demand puts the CBN under fresh scrutiny over its financial stewardship and accountability to Nigerian citizens.

Nigerian banks increased their placements at the Central Bank's Standing Deposit Facility, lifting liquidity across the money market. Market watchers say the stronger placements point to surplus cash in the banking system, with lenders choosing the CBN's deposit window over interbank lending. Analysts will be watching whether the trend eases funding pressures or signals caution about short-term lending.