Nigeria’s short-term benchmark interest rates surged on Thursday as tighter liquidity conditions gripped the financial system, driven largely by deposit money banks (DMBs) ramping up borrowings from the Central Bank of Nigeria (CBN). With no major cash inflows recorded, money market rates broke past the 32% mark — a level rarely seen in recent months. … Continue reading Liquidity Strain Pushes Money Market Rates Above 32% As Banks Increase CBN Borrowings