Author: Marketforces Africa

The money market activities remained generally upbeat throughout the week, despite an open market operations (OMO) auction for instruments worth N166.6 billion. The short and mid tenor instruments were under-subscribed with bids-offers settling at 0.15x and 0.03x respectively for the 93-day ( with N7.4 billion offered and subscription of N50.0 billion at 11.80% stop rate – 11.800%) and 184-day ( with N50.0 billion offered, and N0.5 billion subscription at 12.90% stop rate) instruments. However, the 359-day instrument was 2.8x oversubscribed, with N100 billion offered, N284.5 billion subscription at 13.029% stop rate).  Also, in the Treasury bills secondary market, activities were…

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