Monday, 22 February 2016

Banks struggle with excess N1.5trn deposits

Excess liquidity in the banking system rose to about N1.24 trillion, last weekend, following huge backlog of unmet foreign exchange demand for which the Central aBank of Nigeria, CBN, returned the Naira back-up funds to the banks on Friday.

There is also indication that the liquidity overflow will reach an all time high of N1.5 trillion by end of this week, following the maturity of Treasury Bills worth N257.9 billion which will be credited to the banks by CBN. This is expected to see interbank money rates trending at very low levels with further erosion of margins and yields in money market instruments.

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