Inter-bank lending rates inched higher last week to an average of 15.83 per cent, from 15.66 per cent the previous week, after a large cash withdrawal by the Nigerian National Petroleum Corporation and a tax remittance by telecoms company MTN drained liquidity from the system. NNPC, a major dollar supplier […]
Tag: NNPC
Naira strengthens to highest level in three weeks
The naira rose to its highest level in three weeks against the United States dollar on the inter-bank market on Monday, after the Central Bank of Nigeria intervened in the market. Currency traders added that speculation that the Nigerian National Petroleum Corporation planned to sell dollars also helped the naira […]
