Rates eased to 11 percent across the board, down 3 percentage points from last week.
Investors sold government bonds and the naira after President
Central bank intervention has since steadied the naira and local pension fund managers have been buying bonds.
Sanusi, an outspoken critic of corruption in
Dealers said about
The cash balance that lenders hold at the central bank opened at
The secured open buy back rate eased to 11 percent, 100 basis points below the central bank's benchmark rate of 12 percent, as against 14 percent last week.
Both overnight placement and call money closed lower at 11 percent, compared with 14 percent last Friday.
Dealers said the direction of lending rates next week would depend on what steps the central bank takes to restore confidence to financial markets. - Reuters
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