Browsing: Banks

Interbank rates soared in the money market on the back of an extended liquidity deficit pattern in the banking sector. The short-term benchmark interest rates settled at double digits high due to a liquidity shortfall in the money market last week.

The Central Bank of Nigeria (CBN) has opened a temporary window that allows Bureau de Change (BDC) operators access to stock up US dollars at an official or Nigerian Foreign Exchange Market rate to meet seasonal demand.

Liquidity Deficit in Banking System Keeps Interbank Rates Elevated The liquidity deficit in the banking system kept the short-term benchmark…

As banks sold their holdings to satisfy funding demand, the average yield on Nigerian Treasury bills increased to 25.64% in the secondary market.

Nigeria’s 5-year bonds were priced higher by 14 basis points (bps) at the primary market auction (PMA)  conducted by the Debt Management Office (DMO) on Wednesday.

Naira Plummets, CBN Intervenes in FX Market 3 Times The Nigerian naira lost against the dominant U.S. dollar across foreign…

Interbank Rates Ease on Tight Banking System Liquidity A huge liquidity deficit in the financial system kept interbank rates elevated…

Liquidity: Banks Raise N1.54Trn from CBN to Fund Operations Some of the Nigerian banks that were liquidity stressed raised N1.28…

The money market saw a sharp increase in interbank rates at the start of the week, reversing a previous trend, as there were no notable inflows to improve the financial system’s liquidity balance.

SEC Charges Banks to Strengthen Corporate Governance The Securities and Exchange Commission (SEC) has called on banks to reinforce their…