A severe liquidity crunch has gripped Nigeria’s banking system, pushing short-term benchmark interest rates above 32% as the system grapples with a staggering ₦1.84 trillion deficit. This liquidity crisis, exacerbated by the recent Nigerian Treasury bills settlement, is placing significant pressure on the financial sector. The banking system experienced a net outflow of ₦503.92 billion, … Continue reading Nigeria’s Banking System Grapples With N1.84 Trillion Deficit, Moves Interest Rates Above 32%