CRR debits and N326bn FGN bond auction expand overnight rate to 23%

CRR debits and N326bn FGN bond auction expand overnight rate to 23%

CRR debits and N326bn FGN bond auction expand overnight rate to 23%     The fixed income market traded in a mixed manner last week with overnight lending rate (OVN) expanding significantly by 375 basis point due to tight system liquidity. During the week, OVN expanded to 23 per cent as debits for cash reserves ratio (CRR) by the, Federal Government of Nigeria (FGN) bond auction of N325.80 and Foreign exchange auction by the Central Bank of Nigeria (CBN) outweighed system inflows from Federal Account Allocation Committee (FAAC) disbursements of…

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