• Latest
  • Trending
  • All
  • News
  • Politics
  • Science
  • World
  • Lifestyle

Nigeria overnight lending rates up as CBN curbs liquidity

27/03/2015
Lightning kills 3 climbers in Austria

Lightning kills 3 climbers in Austria

16/06/2025
PTAD pays N8.6B arrears of N32,000 pension increment

PTAD pays N8.6B arrears of N32,000 pension increment

16/06/2025
UN chief urges world leaders to act on Gaza catastrophe

UN chief urges world leaders to act on Gaza catastrophe

16/06/2025
JNI condemns killings in Benue, calls for collective action to stop attacks

JNI condemns killings in Benue, calls for collective action to stop attacks

16/06/2025
Iran’s judiciary chief vows swift punishment for Israel collaborators

Iran’s judiciary chief vows swift punishment for Israel collaborators

16/06/2025
2nd black box recovered after deadly Air India crash

2nd black box recovered after deadly Air India crash

16/06/2025
Iran appoints new military chiefs after Israeli strikes kill top commanders

Benue Crisis: Tinubu directs security chiefs to implement earlier directive

16/06/2025
Buni, Zulum back Tinubu for 2027

Buni, Zulum back Tinubu for 2027

16/06/2025
Killings: Group urges Gov. Alia to declare state of emergency on security

Killings: Group urges Gov. Alia to declare state of emergency on security

16/06/2025
Nigeria losing $9bn to illegal mining annually – Reps panel

Rep disburses N24.5m as scholarship grants to 614 students

16/06/2025
Trump pushes for largest mass deportation drive amidst protests

Trump pushes for largest mass deportation drive amidst protests

16/06/2025
UN cuts humanitarian aid as funding crisis deepens

UN cuts humanitarian aid as funding crisis deepens

16/06/2025
  • Home
  • News
    • Security
    • Foreign
  • Business
    • Technology
    • NIMASA & Maritime
  • Entertainment
    • Relationship
    • Style
  • Politics
  • Features
  • Sports
  • Column
    • Opinion
    • Column – Monday
    • Column – Thursday
    • Column – Wednesday
    • column – Friday
Monday, June 16, 2025
  • Login
  • Register
SundiataPost
  • Home
  • News
    • Security
    • Foreign
  • Business
    • Technology
    • NIMASA & Maritime
  • Entertainment
    • Relationship
    • Style
  • Politics
  • Features
  • Sports
  • Column
    • Opinion
    • Column – Monday
    • Column – Thursday
    • Column – Wednesday
    • column – Friday
No Result
View All Result
SundiataPost
No Result
View All Result
Home Business

Nigeria overnight lending rates up as CBN curbs liquidity

by Admin
27/03/2015
in Business
250 2
0
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

LAGOS (Reuters) – Nigeria’s overnight lending rates rose to an average of 12.5 percent on Friday, compared with 9 percent last week, after the central bank drained cash from the money market.

The central bank debited commercial lenders 58.2 billion naira ($293 million) to enforce its Cash Reserve Requirement (CRR) and another 306 billion naira ($1.5 bln) to fund Treasury bill purchases, curbing liquidity.

The central bank debits lenders twice in a month to enforce its CRR rule, which requires banks set aside cash with the regulator against its public and private deposits.

[pro_ad_display_adzone id=”10″]

“Rates shot up… to an average of 15 percent when the CRR was debited, but later eased as cash for government workers hit the market,” one dealer said.

The secured Open Buy Back (OBB) rose to 12 percent from 9 percent last week. The secured fund was one percentage points below the 13 percent central bank’s benchmark interest rate.

Overnight placement also rose to 13 percent against 9 percent last week.

Share this:

  • Tweet
  • Print
  • Telegram
  • Email
  • WhatsApp
Tags: CBNNigerianigeria news updateNigerian newsup
Share196Tweet123
Admin

Admin

https://sundiatapost.com/wp-content/uploads/2025/01/cbn-gocashless.mp4

For more news updates and commentaries click below to join us on WhatsApp

PAY ATTENTION: Follow Sundiata Post on WhatsApp so you don’t miss breaking news and commentaries. Click HERE TO JOIN US NOW!!!

SundiataPost

Copyright ©2024 SundiataPost. Website - 08067783809

Navigate Site

  • About
  • Advertisement
  • Privacy Policy
  • Contact Us
  • The Team

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Security
    • Foreign
  • Business
    • Technology
    • NIMASA & Maritime
  • Entertainment
    • Relationship
    • Style
  • Politics
  • Features
  • Sports
  • Column
    • Opinion
    • Column – Monday
    • Column – Thursday
    • Column – Wednesday
    • column – Friday

Copyright ©2024 SundiataPost. Website - 08067783809