Nigerian interbank rate falls on increased liquidity

Traders said the central bank injected around 331 billion naira ($1.66 billion) in matured open market operation (OMO) treasury bills into the banking system on Thursday, while additional naira from the budget and refunds from deposits for foreign exchange purchases are expected to hit the system by close of business on Friday. Nigeria, Africa's biggest economy, distributes revenues from oil exports and taxes among its three tiers of government -federal, state and local- on a monthly basis, with