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Inter-bank rates rise as CBN mops up N1.1trn

CBN

Nigeria’s overnight inter-bank rates rose further to 17.42 percent on Friday from 14.25 percent the previous day after the Central Bank of Nigeria (CBN) mopped up a total of N1.075.85 trillion from the banking system on Thursday. Overnight rate is the rate at which Deposit Money Banks (DMBs) borrow and lend to each other. In…

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