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MarketNews
Excess liquidity in the Nigerian financial system surged about 33% after heavy OMO bill
Nigeria’s Debt Management Office (DMO) is set to offer N1.10 trillion worth of FGN bond maturities at the primary market auction on Monday.
The average yield on Nigerian government treasury bills increased as fixed-income market investors rebalanced their portfolios ahead of the inflation rate announcement.
Money market rates tightened amid a surplus of liquidity in the financial system, despite a significant outflow related to the settlement of auctioned OMOs and Treasury bills.
The Central Bank of Nigeria (CBN) turned down more than N2.4 trillion in investors’ money as total subscription at the open market operation topped N4.6 trillion, according to auction results reviewed by MarketForces Africa.
CBN Lifts Restrictions on Banks’ Access to FX, Govt. Securities at DW The Central Bank…
The Central Bank of Nigeria (CBN) increased the discount rate on 364-day Nigerian Treasury bills (NTB) 17.59% at the midweek auction, amid significant oversubscription.