Inter-bank overnight rate rises 21.42% after CBN’s OMO

The overnight tenor of the Nigeria Inter-Bank Offered Rates (NIBOR) on Monday climbed by 21.42 percent to 37.54 percent from 16.12 percent Friday last week. This is as a result of liquidity squeeze in the banking system following the Open Market Operation (OMO), which is a tool used in the purchase of securities in the…

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Source : BusinessDay

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