Amidst ongoing fiscal obligations, Nigeria’s money market witnessed fluctuating rates this week as deposit money banks completed their corporate tax payments to the Federal Inland Revenue Service (FIRS), leading to notable cash outflows and liquidity adjustments in the financial ecosystem. Despite the strain from these tax-related outflows, market liquidity remained relatively stable, bolstered by expectations … Continue reading Liquidity Pressures Trigger Money Market Rate Swings As Banks Remit Corporate Taxes