Interbank rates rise on budgetary delay

The Nigerian interbank lending rates climbed on Friday to an average of 14.83 percent, from 14.50 percent last week, as a two week delay in the disbursal of September budgetary allocations started to dry up liquidity. The disbursal of budgetary allocations from September oil revenues to the three tiers of government was due two weeks ago, but it has been held up by what traders say is a row between the central bank and the government over the handling of the account. Add your comment
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