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Nigerian lenders are pulling back from the central bank’s safety net. Banks and merchant banks slashed their deposits with the Central Bank of Nigeria (CBN) by 28 per cent in April 2026. This retreat follows a decision by the Monetary Policy Committee to cut the headline interest rate to 26.5 per cent. Total deposits dropped…
The Central Bank of Nigeria has finally begun to coax cash back into the vaults. Fresh data show that currency outside banks (COB) fell for the second month straight, hitting N5.19 trillion in February 2026. This dip follows a long, stubborn climb where Nigerians seemed to prefer under-mattress storage to savings accounts. Bankers will view…
