- Julius Berger Earnings Drop by 44% as FX Losses, Tax Burden Weigh
- Oil Rises as U.S. Mulls Major Combat Operations against Iran
- World Bank Projects 748m More Urban Residents in SSA by 2050
- Why Personalized Engagement Is Essential in Today’s Digital Gaming Landscape
- TotalEnergies Divests 40% Interest in Nigeria’s OPL257 to SAPETRO
- US, European Markets Mixed as AI Spending, Earnings Shape Sentiment
- UN Demands $296 billion Annually to Restore Nature
- Bids Top N2.3trn at CBN OMO Auction, Only ₦245bn Allotted
Economy
Fitch Ratings has revised the outlook on Nigeria’s Long-Term Issuer Default Ratings (IDRs) to positive from stable and affirmed the IDRs at ‘B’.
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…