Liquidity Squeeze Pushes Overnight Rate to 22.20%
The Central Bank of Nigeria drained trillions of naira from commercial vaults, driving the interbank overnight lending rate up to 22.20 per cent. Olayemi Cardoso continues his aggressive mop-up of banking cash to halt currency speculation and tame stubborn price rises. The apex bank sold N2.888 trillion in Open Market Operations bills in a single…
