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Nairaland Forum / Nairaland / General / Business / Cash Shortage Hits Banks, Overnight Lending Rate Jumps (18907 Views)
CBN Reduces Lending Rate To 11 Percent / Cash Shortage Hits Banks As TSA Deadline Expires / Cash Squeeze Hits Banks As NIBOR Volatility Surges (2) (3) (4)
Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Adesiji77: 9:45am On Apr 15, 2015 |
Overnight lending rate jumped to 78.5 per cent on Tuesday, up from 60 per cent on Monday, statistics from the FMDQ OTC showed The increase came two days after the Central Bank of Nigeria debited banks about N72bn to enforce its Cash Reserve Requirements policy. The development has triggered a surge in demand for funds on the interbank market, according to financial market dealers. The CBN requires banks to set aside 75 per cent of public sector and 15 per cent of private sector deposits in cash in their respective accounts with the central bank. Data from the FMDQ showed that overnight lending rate stood at 27 per cent on Friday before the CBN withdrew the funds. Traders said that the liquidity shortage was compounded by lack of cash flow to the banking system because there were no Treasury bills maturing during the past week. An analyst at Ecobank Nigeria, Mr. Kunle Ezun, said the increase in overnight lending rate was a reflection of the market, adding that the recent cash withdrawal by the CBN had led to liquidity squeeze in the market. He, however, said the situation might change in coming days as payment for maturing treasury bills would pump liquidity into the market. http://www.punchng.com/business/money/cash-shortage-hits-banks-overnight-lending-rate-jumps/ 2 Likes 1 Share
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Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by haywire1: 9:48am On Apr 15, 2015 |
GEJ don finish our money ooooo . Remember hw he blasted trillion of dollars jst for political campaigns. Anyway, buhari is here to squeeze d money out wher he hid it O'boy na FP nd FTC sha , so na me God bless with this plot of land . This Land belongs to me, 419 keep running * 15 Likes 2 Shares
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Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Mogidi: 10:07am On Apr 15, 2015 |
The cash shortage is only temporary, Buhari is coming to stabilize world oil prices and print more Naira if needed. 11 Likes |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Nobody: 10:08am On Apr 15, 2015 |
asylum seekers and otueke bound denizens Don dey withdraw their money sharperly. 6 Likes 1 Share |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by kandrus: 10:08am On Apr 15, 2015 |
So? |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Nobody: 10:08am On Apr 15, 2015 |
Really? |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Nobody: 10:08am On Apr 15, 2015 |
Rubbish, Y'all better be doing yourselves. I wouldn't want story on my cash after all these hustling. 5 Likes |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by romi: 10:09am On Apr 15, 2015 |
Aftermath of Billions of naira spent on political campaigns! I am so happy and I am sharing recharge cards. Pls manage this MTN 1500▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ Etisalat 1000▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ Glo 1000▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ Airtel 1000▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ Please use a sharp object like broken bottle or knife for easy scratch on your screen. don't bother to thank me What are friends for?.GOD bless ur week!! 12 Likes 3 Shares |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Lilimax(f): 10:09am On Apr 15, 2015 |
Hope we are not on a long thing? However, I foresee a very bright future for our country's economy 6 Likes 3 Shares |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Elslim: 10:09am On Apr 15, 2015 |
Yepa |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by bobcharly(m): 10:09am On Apr 15, 2015 |
well, if i can still withdraw my money....no problem... |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by 1N9a: 10:09am On Apr 15, 2015 |
Uhmmmn..... |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by tunwumi: 10:09am On Apr 15, 2015 |
This is aftermath of election |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Ymodulus: 10:10am On Apr 15, 2015 |
As long as it affects gtbank arm happy 2 Likes 2 Shares |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by oneda(m): 10:10am On Apr 15, 2015 |
Go to politician's dem house, that's where the cash are The post election largese (mostly in USD) are still stashed away waiting for things to calm down. Banks should forget T-bills. After May 29 cash go boku for market 3 Likes 1 Share |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Pavore9: 10:10am On Apr 15, 2015 |
Money don finish! |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Maczeelly(m): 10:10am On Apr 15, 2015 |
It is well !!!! |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by dkronicle(m): 10:10am On Apr 15, 2015 |
nowadays, money no dey loss, na shortage era things.. |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Arysexy(m): 10:10am On Apr 15, 2015 |
Make I go fix my money wasting in diamond bank |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by LivinaPatrick(f): 10:11am On Apr 15, 2015 |
ok |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by pornstar(m): 10:11am On Apr 15, 2015 |
i was here |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by sheymoni(m): 10:11am On Apr 15, 2015 |
Someone should pls explain in clear terms 1 Like |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by adonismuller(m): 10:11am On Apr 15, 2015 |
Click like if u don't understand what they are saying like me, click share if you understand. This people should interpret in pidgin english... They should lemme know oo...if na to run go withdraw my money make I know!!!! 4 Likes 2 Shares |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by braintext(m): 10:11am On Apr 15, 2015 |
Hmmm 1 Like |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by tunnary(m): 10:12am On Apr 15, 2015 |
Them dey give me loan be4 |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by Lilimax(f): 10:12am On Apr 15, 2015 |
Economists oya over to una... 1 Like |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by joystickextendr: 10:12am On Apr 15, 2015 |
am sure its temporary Meanwhile are u having problems with your joystick size or having premature ejac?? Check my profile/signature |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by unclejb2(m): 10:12am On Apr 15, 2015 |
haywire1:Pls just keep quiet. 4 Likes |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by idrisolaide(m): 10:12am On Apr 15, 2015 |
Wao, Isn't this CHANGE? |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by denedene(m): 10:13am On Apr 15, 2015 |
na wa o! all them politicians wey de bury money for suckaway Abeg bring am out |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by xynerise: 10:13am On Apr 15, 2015 |
What were you expecting? The politicians collected loans from the banks for campaigns and I believe many of the banks didn't ask for collaterals |
Re: Cash Shortage Hits Banks, Overnight Lending Rate Jumps by disloman(m): 10:14am On Apr 15, 2015 |
I no undastand.can someone explain? |
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