• Contact Us
  • About Us
Sunday, June 1, 2025
  • 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
ADVERTISEMENT
Home Economy

Overnight lending rate falls sharply on naira injection

metro by metro
December 9, 2016
in Economy
0
Naira
0
SHARES
0
VIEWS

Overnight lending rate dropped sharply to an average of 3.9 percent on Friday from 10 percent a week ago following an injection of naira liquidity into the banking system.

A total of 454 billion naira ($1.49 billion) in debt refund to state governments and matured treasury bills entered the system this week, raising liquidity and pushing down borrowing cost among lenders.

Read Also

Moody’s Upgrades Nigeria’s Rating To ‘B3’ On External Fiscal Positions

Subsidy,  FX Windows  Strangled Nigeria’s Future, Says Tinubu At Midterm 

Oil prices Climb $1 As US Court Blocks Trump Tariffs

  Traders said the central bank sold around 115.68 billion naira worth of open market operations treasury bills between Wednesday and Thursday, but the market remained sufficiently liquid to keep rates at below double digits.

This week the central bank paid owed monies to state governments, which improved liquidity as did 49 billion naira distributed from Nigeria’s oil savings excess crude account.

Lending rates could trade flat next week, traders said, as firms and banks close activities for the end of the year.

 

Tags: lending rateNaira
Previous Post

Schoolgirl suicide bombers kill 56 in Madagali market -army

Next Post

Supreme Court dismisses Gov’s bid to stop action against his nomination

Related Posts

Moody’s Upgrades Nigeria’s Rating To ‘B3’ On External Fiscal Positions
Economy

Moody’s Upgrades Nigeria’s Rating To ‘B3’ On External Fiscal Positions

May 30, 2025
FG To Start Paying Debt Service As Nigerian Economy Grows By 2.99% In Q1 2024-Edun
Economy

Subsidy,  FX Windows  Strangled Nigeria’s Future, Says Tinubu At Midterm 

May 29, 2025
Nigerians Overstaying Visa Risk Serious Sanctions, US Warns, Says “No Honest Mistakes”
Economy

Oil prices Climb $1 As US Court Blocks Trump Tariffs

May 29, 2025
Ahead Of Agreed Minimum Wage, President Tinubu To Send Bill To NASS, Takeaways From Anniversary Broadcast
Economy

Tinubu Seeks National Assembly Approval Of $21.5bn, N757.9bn Pension Bond

May 27, 2025
Next Post

Supreme Court dismisses Gov's bid to stop action against his nomination

20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

May 31, 2025
Ex-CBN Governor Emefiele Arrives Lagos Court For Arraignment

Forfeiture Order; EFCC Sues Emefiele In Fresh Eight-Count Charges

May 31, 2025
Saudis say to take “big hit” on oil output for OPEC deal, Iran can freeze

OPEC+ Announces Increase In July Oil Output

May 31, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

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

© 2022 Metro Business News

Go to mobile version