The overnight rate slumped slightly as the Central Bank of Nigeria, CBN, continued with the regular sale of treasury bills through the Open Market Operations, OMO.
The interbank lending rate, which closed on Wednesday at 15.75 percent, stood at 15.50 percent on Thursday.
Similarly, the Open Buy Back, OBB rate, which was at 14.83 percent on Wednesday, closed on Thursday at 14.67 percent.
The slight decline occurred as the apex bank mopped up about N100 billion from the banking system.
Result of the OMO auction yesterday showed that the central bank sold N3.12 billion worth of 91-day bill, while it raked N96.80 billion from the 224-day bill.
While the 91-day bill cleared at 12.60 percent, the 224-day instrument was sold at 14.40 percent, Business Post reports.
