Nigeria’s Overnight Lending Rate Rises to 22.20% as Banking Liquidity Tightens
Nigeria’s Overnight Lending Rate Rises to 22.20% as Banking Liquidity Tightens
Nigeria’s overnight lending rate rose by two basis points to 22.20 per cent on Friday, September 4, 2026, as liquidity in the banking system tightened following the settlement of the Central Bank of Nigeria’s Treasury Bills auction.
The Open Buyback (OBB) rate remained unchanged at 22.00 per cent, while system liquidity opened at ₦3.66 trillion, according to money-market data cited from the CBN and market sources.
The latest liquidity position reflects a significant reduction in available funds following the Treasury Bills settlement. Market data from Herwood Securities indicated that liquidity was down by about ₦930 billion from the previous trading session’s ₦4.61 trillion.
The decline pushed the overnight rate slightly higher, although the banking system remained in surplus, indicating that banks still had funds available for short-term transactions.
The movement highlights the impact of the CBN’s liquidity-management operations on short-term money-market rates as the apex bank continues to use Treasury Bills and other instruments to manage liquidity conditions.
