CBN Announces New Rates for Access Bank, UBA, GTbank, Zenith, Other Banks [Video]

• The Central Bank of Nigeria has announced new lending rates for commercial, merchant, and payment banks
• CBN gives loans to banks using the Standing Lending Facility (SLF) and deposits from banks using the Standing Deposit Facility (SDF)
• The new rates are part of CBN’s ongoing efforts to manage liquidity and stabilise the banking sector amidst evolving economic conditions

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) has resumed lending to banks through the Standing Lending Facility (SLF).

The apex bank, in a new circular signed by Omolara Duke, Director of the Financial Market Department, pegged the new lending rate at 31.75%.

A Standing Lending Facility (SLF) is a process that allows banks to borrow moneyfrom a central bank, such as the CBN, on an overnight …