Nigeria cut its benchmark interest rate to 8.0 percent from 9.75 percent. The Monetary Policy Committee reduced the reserve requirement to 1 percent from 2 and lowered the liquidity ratio for banks to 25 percent from 30.
Liquidity is an issue for the banking sector right now with interbank lending rates at 18 percent.
Good things you are doing.. I have always dreamt of starting a frontier markets funds with a high risk/return strategy... All the best.. ribacapital@yahoo.com
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