Nigeria’s
interbank lending rates inched up this week to an average of 10.50 percent on
Friday, up from 10.37 percent last week after a treasury bill sale drained
liquidity, dealers said.
The
Central Bank of Nigeria (CBN) sold a combined N200 billion ($1.2 billion) worth
of bills on Monday and Thursday this week, to manage excess liquidity. It also
sold N114.39 billion in treasury bills
at a primary market auction.
The
market opened with a cash balance of
