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MarketNews
Nigerian OMO bills auctioned by the Central Bank last week attracted N6.1 trillion from investors chasing double-digit returns on naira-denominated assets.
Financial system liquidity surged by about 72% to N3.10 trillion, supported by N1.46 trillion in inflows from matured OMO bills that were not refinanced by the Apex Bank.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) kept the benchmark interest rate unchanged at 26.50% following the completion of a 2-day meeting on Tuesday.
The financial system liquidity dipped on Monday as the Central Bank of Nigeria (CBN) debited banks’ cash reserve ratio (CRR) requirement on deposits collected but not disbursed as loans.
The Nigerian Treasury bills yields declined as investors ramped up naira assets via secondary market transactions on Monday.
The Debt Management Office (DMO) under-allotted Federal Government of Nigeria (FGN) bonds to investors despite a top-notch subscription level at the auction conducted on Monday.
The Federal Government says Nigeria’s debt profile has been exaggerated, insisting borrowings under …