Interbank lending rates rose slightly yesterday as naira liquidity fell, on large outflows to foreign exchange purchases.
Date from the Financial Market Dealers Association (FMDA) showed that the secured Open Buy Back (OBB) rose to 14.75 percent, compared with 15.04 per cent compared to 15.0 percent at which it closed on Friday.
Call money rose to 15.708 per cent, compared with 15.58 per cent while the seven-day rate rose to 16.04 per cent from 16.0 per cent on Friday.
The 30-day rate rose from 16.16 per cent to 16.33 per cent yesterday. even as the 60-day, 90-day, 180-day and 365-day rates rose from 16.50 per cent, 16.75 per cent, 16.95 per cent and 17.21 per cent as at last Friday to 16.62 per cent, 16.83 per cent, 17.08 per cent and 17.37 per cent yesterday, showed the FMDA report.