• Contact Us
  • About Us
Sunday, April 2, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home Banking

Interbank lending rate eases as naira reach banks

metro by metro
December 2, 2016
in Banking
0
Nigeria interbank
0
SHARES
0
VIEWS
Interbank Iending
Interbank Iending

Interbank lending rate fell to 10 percent on Friday from 14 percent a week ago as October budget allocations to government agencies reached the banking system.

Nigeria distributed 420 billion naira ($1.33 billion) to its three tiers of government for October last week, with some portion passed through the banking system.

Read Also

UBA 2022 FY Profit Hits N201Bn, Declares 90 Kobo Final Dividend

Cash Crunch : CBN Appeals To Customers For Patience, Confirms Evacuation Of Banknotes To DMBs

NOVA Merchant  Bank Pledges Support For Women Embracing Technology In Nigeria

 Africa’s largest economy relies on crude oil sales for two-thirds of its national income. Proceeds from the sale provide substantial liquidity to the money markets.

Traders said the central bank sold treasury bills on Wednesday to soak up some of the liquidity, but the amount sold was not enough to affect lending rates.

They also said the regulator offered to sell more bills on Friday, but most lenders declined to participate, choosing to hold cash because of the frequency of withdrawals from their customer accounts.

Traders expect money market rates to stay flat next week as activity slows towards the end of the year.

 

Previous Post

U.N. doubles humanitarian appeal for northeastern Nigeria to $1 billion

Next Post

Court rules security agency to release Shi’ite leader

Related Posts

UBA
Banking

UBA 2022 FY Profit Hits N201Bn, Declares 90 Kobo Final Dividend

March 30, 2023
CBN
Banking

Cash Crunch : CBN Appeals To Customers For Patience, Confirms Evacuation Of Banknotes To DMBs

March 24, 2023
NOVA Merchant  Bank Pledges Support For Women Embracing Technology In Nigeria
Banking

NOVA Merchant  Bank Pledges Support For Women Embracing Technology In Nigeria

March 22, 2023
CBN
Banking

Confusion As Banks Resume Issuance Of Old N500, N1,000 Notes To Customers

March 7, 2023
Next Post

Court rules security agency to release Shi'ite leader

Zenith Bank

FTS: Zenith Bank And Burden Of Subsidiary

April 1, 2023

Cellulant’s Payment Processing Platform to Power Online and Offline Payments for Businesses in Africa

March 31, 2023

Bybit Launches Optimized ETH Staking Ahead of Ethereum’s Shanghai Upgrade

March 31, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

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

Log In
Go to mobile version