Interest rates at the inter-bank market yesterday dropped significantly by 65.41 percent from 41.89 percent on Wednesday to 14.49 percent, following the repayment of treasury bills worth N156.4 billion by the Central Bank of Nigeria (CBN).
Thank you for reading this post, don't forget to subscribe!Consequently, the Nigerian Inter-Bank Offered Rates (NIBOR) dropped across tenor buckets such that call tenor went down to 13.25 yesterday from 55.83 the previous day. Similarly, 7 days, 30 days, 60 days and 90 days dropped from 42.62 percent, 36.95 percent, 37.79 percent and 38.95 percent, respectively, on Wednesday to 13.87 percent, 14.16 percent, 14.50 percent and 14.83