The naira weakened for a second day on the Nigerian interbank market, heading for its biggest fall in three weeks, as import demand for dollars exceeded supply. The currency of Africa’s top oil producer fell 0.4 percent to 158.18 a dollar as of 11:33 a.m. in Lagos, the commercial capital, […]
Tag: Naira
Inter-bank rates fall on excess liquidity
Inter-bank lending rates eased further last week to an average of 10.75 per cent, from 11 per cent recorded the previous week, as cash from mature bonds and bills hit the market and unattractive yields on treasury bills limited central bank mop-up efforts. Dealers said about N81bn ($512.33m) in mature […]
CBN to issue N71bn T-bills
The Central Bank of Nigeria has said it plans to issue N70.65bn ($445.18m) in treasury bills at its regular bi-monthly debt auction next week as part of measures to tighten liquidity. The Apex bank, which disclosed this on Wednesday, said the treasury bills would range from three-month to six-month maturities. […]
