Saturday, 30th September 2023
<To guardian.ng
Search

Nigeria’s interbank rate rises as banks pay for dollar purchases

Nigeria's overnight lending rates rose 20 percentage points last Friday after the Central Bank of Nigeria sold dollar forwards to offset a backlog of forex obligations from the money market.

Related

6 Aug
ECOWAS chair Nigeria set a deadline for Sunday for Niger's coup leaders to cede power or face military intervention. But the Senate leader urged President Tinubu to continue diplomatic efforts as the ultimatum neared.
9 Aug
Nigeria slaps fresh sanctions on the military junta in Niger as it says 'all options are on the table' to restore President Bazoum to power, nearly two weeks after the coup d'etat. Also in this edition: Despite an opposition boycott, voters in CAR overwhemlingly endorse a new constitution, paving the way for President Touadera to run for a third term. And finally: We get reactions from Rwanda after a UN court's decision to indefinitely halt the trial of Felicien Kabuga, an alleged financier of the 1994 genocide.
19 Aug
Although education is a fundamental human right, it’s often out of reach for women, girls, and people living in low-income communities. The Recycles Pay Educational project in Lagos, Nigeria, ensures that children from these communities remain in school while promoting plastic recycling. The initiative allows parents or guardians to pay their ward’s school fees using plastic bottles and cans.
16 Aug
Seven people died after a mosque filled with worshippers caved in on Friday in Nigeria's northern city of Zaria, in Kaduna state, with several others injured.
14 Aug
Although education is a fundamental human right, it’s often out of reach for women, girls, and people living in low-income communities. The Recycles Pay Educational project in Lagos, Nigeria, ensures that children from these communities remain in school while promoting plastic recycling. The initiative allows parents or guardians to pay their ward’s school fees using plastic bottles and cans.
22 Aug
Doctors and nurses are leaving Nigeria in large numbers. A lack of medical staff has long been a problem, and it's getting worse. DW spoke with some of those who are considering leaving to find out what's motivating their decisions.
26 Aug
Twenty-two soldiers of the Nigerian Army killed in an ambush by bandits in Niger state have been buried.
29 Aug
Corporal punishment has long been a fact of life for Nigerian schoolchildren. In Katsina State, officials say school attendance improved after the practice was banned.
6 Sep
President Bola Tinubu was elected in a closely contested poll in February. The losing candidates have challenged the results citing irregularities.
9 Sep
Talk about unexpected U-turns. And it is that José Peseiro is back like he never left as a head coach of the Super Eagles. And of course, that conversation is there for the taking alongside a preview of the all-important games against São Tomé and Príncipe on Sunday.
15 Sep
Nigeria made their debut at the recent Invictus Games. Dismissed by critics as a cynical, expensive spectacle, the Games are a chance for participants suffering from physical and psychological trauma to exchange ideas.
1 day ago
Ile Ife is the cultural center of Nigeria's Yoruba people. Our guide is the leader of the Yoruba king's personal band.