Banks use Standing Deposit Facility (SDF), to deposit their excess funds overnight with the CBN for an interest. The data also showed that banks’ deposit since the beginning of the year has witnessed a steady increase, reaching its highest peak in September 2025. The interest rate at which these banks borrow from CBN changed in 2024 amid the Monetary Policy Committee (MPC) hike in MPR or interest rate. Previously, deposits up to a certain threshold, for example N3 billion, earned a higher interest rate, while amounts exceeding that threshold earned a lower rate. Commenting, Investment Banker & Stockbroker, Tajudeen Olayinka, attributed the surge in banks deposit with CBN to uncertainty in the business environment over rising insecurity, among others.