Nigeria Eurobonds Rally as Foreign Investors Eye Attractive Yield
Amidst a plan to raise $2.2 billion in external borrowing, Nigeria’s sovereign Eurobond has continued to attract foreign portfolio investors (FPIs) in the international market.
The renewed buying interest by the offshore investors followed mild selloffs triggered by uncertainties spooked by...
Interbank Rates Crash over Banks Excess Liquidity
Interbank rates plunged significantly as pressure on the money market continued to ease following a spike in inflows. On Thursday, liquidity balance in the financial system expanded above local banks funding requirements.
System liquidity remained positive and improved despite today’s foreign exchange (FX) settlement...
Zenith Bank Profit Grows by 90.5% to N827 Billion
Zenith Bank Plc profit has increased by 90.5% year on year to N827.2 billion in 12 months, according to details from its financials submitted on the Nigerian Exchange.
In its unaudited 9M-2024 financial statement, Zenith Bank Plc pretax profit reached an...
Nigeria's US Dollar Bonds Yield Rises to 9.60% over Selloffs
Nigerian US dollar bonds yield rose slightly to 9.60% due to the latest selloffs by foreign portfolio investors conducting trades in the Eurobonds market. The uncertainties in the local economy and rising debts reduced appetite for Nigeria’s sovereign Eurobond, including...
