- Oil Prices Rise over US-Iran Peace Talks Uncertainty
- XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK
- NEC Approves Refinancing of $3.3bn Project Gazelle
- South African Rand Weakens as U.S. Dollar Index Rebounds
- Wall Street, European Markets Rally on Global Inflation Relief Bets
- Bitcoin Trades Sideways as Strategy Inc. Reduces BTC Holding
- Ethereum Hovers at $1.85k as BitMine Hikes ETH Holdings to 4.8%
- Banking System Surplus Liquidity Rises 70%, Interbank Rates Mixed
Economy
Nigeria Must Lead Global Energy Security – Seplat CEO Mr Effiong Okon, Chief Executive Officer, Seplat Energy Plc, has called for more collaboration, increased…
Interbank Rates Rise as Banks Borrow to Close Funding Gap The short-term interest rates climbed…
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…