Nigeria: Interbank Market Awaits Inflow From FAAC

21 April 2014

The Nigerian interbank market, a market for short-term borrowing among commercial banks currently awaits the inflow of funds from the Federation Account Allocation Committee (FAAC) to boost the level of liquidity in the market.

FAAC allocation, which passes through the interbank market, traditionally influences the direction of the Nigerian Interbank Offered Rates (NIBOR) by strengthening the level of liquidity in the system.

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