The overnight lending rate flagged up the new week upswing with a significant surge to 8.17 percent from 3.33 percent recorded in the last session.
This came on the heels of system outflows for Wholesale foreign exchange interventions by the Central Bank of Nigeria, CBN.
As such, system liquidity further collapsed to about N150 billion as at close of business. Also, the open buy back (OBB) rate jumped to 7.58 percent from 2.83 percent in the previous session.
According to analysts at Zedcrest Research, the rates are expected to decline slightly today as there are no significant funding pressures expected.
Meanwhile, at the beginning of the bank, the treasury bills market recorded sparse trade with slight sell witnessed on the shorter end of the curve, following outflows for wholesale FX interventions by the apex bank.
