Commercial banks reduced their overnight deposits with the Central Bank of Nigeria (CBN) via the Standing Deposit Facility (SDF) by N941.85 billion to N3.76 trillion as of October 7, 2026. This marks the largest single-day decline since September 30, bringing balances below the N4 trillion mark for the first time in recent sessions. The movement reflects significant shifts in banking system liquidity following the Monetary Policy Committee’s decision to lower the Monetary Policy Rate to 23% in late September.