Banks’ Deposits with CBN Surge by 568%, Hit ₦146.13 Trillion in Nine Months

By Diafa Doubra,

Commercial banks in Nigeria have significantly increased their deposits with the Central Bank of Nigeria (CBN), hitting an all-time high of ₦146.13 trillion between January and September 2025. This marks a staggering 568% rise compared to the ₦21.86 trillion recorded within the same period last year, according to recent financial reports from the apex bank.

Analysts attribute the sharp increase to the CBN’s tightening monetary policy stance, which has seen the benchmark interest rate raised multiple times to control inflation and stabilize the naira. The rise in banks’ deposits suggests a shift toward liquidity management and compliance with the Cash Reserve Ratio (CRR) requirements. Financial experts also believe that the move reflects cautious lending patterns among commercial banks amid persistent economic uncertainty and high default risks in the private sector.

However, while the surge in deposits may strengthen the CBN’s liquidity control measures, it could also deepen credit scarcity for businesses and individuals. Economists warn that limited access to loans might further slow economic recovery and stifle investment in critical sectors. They urged the CBN to balance its policies to ensure both monetary stability and sustainable economic growth.