Nigeria overnight lending rate drops on liquidity injection – Reuters

Nigeria overnight lending rate drops on liquidity injection – Reuters

Nigeria’s overnight lending rate dropped to 12 percent on Friday after spiking to almost 100 percent on Wednesday due to a liquidity squeeze as lenders paid for hard currency and treasury bills purchased from the central bank, traders said. Money market rates moderated on Thursday after the state disbursed 224.54 billion naira ($715.10 mln) in…

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