The Central Bank of Nigeria has raised its Standing Lending Facility rate to 31.75 percent to boost stability within the financial sector. The apex bank disclosed this in a circular issued on Monday by its director, Financial Market Department, Omolara Duke, lifting the suspension on SLF. The SDF rate, applicable to deposits made by banks at the CBN, has been increased to 25.75 percent. The policy is expected to take effect immediately. The decision to raise the SLF rate was taken during the 296th Monetary Policy Committee (MPC) meeting held in July 2024, where key adjustments to interest rate…