The Governor, Central Bank of Nigeria, Mr. Lamido Sanusi, has defended the high lending rate regime in the banking sector, saying corruption is largely responsible for the development. The CBN, in performing its lender of last resort function, lends to Deposit Money Banks at an interest rate of 12 per […]
Tag: Lending Rate
Inter-bank rates up on NNPC cash withdrawal
Inter-bank lending rates rose more than 80 basis points last week to an average of 11.41 per cent, compared with 10.58 per cent the previous week, as cash outflows to Treasury bill sales and a withdrawal by the Nigerian National Petroleum Corporation drained liquidity. Dealers said Central Bank of Nigeria […]
CBN plans N172bn T-bill auction
The Central Bank of Nigeria plans to issue N171.83bn ($1.09bn) in treasury bills ranging from three-month to one-year maturities at its regular bi-monthly debt auction on October 11. The regulator said it would issue N30.16bn in 91-day paper, N73.49bn in 182-day bills and N68.18bn in the 364-day paper next week. […]
