Author: Marketforces Africa

MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

Investors Get 21.50% Interest Rate on OMO Bills The spot rate on one year open market operations (OMO) bills sold to fixed interest securities investors and other market participants at the Central Bank of Nigeria (CBN) primary market auction cleared at 21.50%.according to auction results. The apex bank has started cutting bank rates on the monetary authority’s instrument, reversing the trend witnessed earlier in the year to drive FX inflows into the economy. The inflation rate has kept the interest yield on naira assets negative. Elevated yields in the fixed income market attracted foreign investors in Q1 as the CBN…

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