- Naira Strengthens to N1338 per US Dollar, N1560 to Euro
- Elektron Energy Unveils 40MW Embedded Power Project in Lagos
- Nigeria’s Economy Has Stabilised, Finance Minister Says
- CBN Reduces Rates on Nigerian OMO Bills, Raises N1.9trn
- Equities Investors Gain N306bn as Nigerian Market Rebounds
- Bitcoin Reclaims $80k on Heavy Spot ETF Bets
- SK Hynix Tokenised bStocks Rises on Risk-on Sentiment
- XRP Jumps as Hedge Against Weak Dollar, Ripple Stablecoin Tops $2bn
Financial Market
OMO Bills Reopening Drives Funds Away from Nigerian Stocks One of the more consequential policy shifts in Nigeria’s financial markets may have arrived quietly:…
Nigerian Treasury Bill Selloffs Provoke 10bps Yield Surge It was seller market during the midweek…
Interbank rates crossed the 31% benchmark as the liquidity level in the financial system remains in negative territory. Due to a weak funding profile in the financial system, money market rates have remained elevated.
In contrast to expectations, Nigeria’s fixed income market strengthened amidst concerns over the direction of the yield on local assets, analysts said.
The average on Nigerian Treasury bills increased in the secondary market as investors continued to dump the short term borrowing instruments. Investors’ moods swung due to sustained spot rates decline at the primary market.
Nigerian Treasury Bill Yield Bends Rates Slump at Main Auction The average yield on Nigerian…
CBN Cuts Spot Rates on Nigerian Treasury Bills The Central Bank of Nigeria (CBN) has…