- Tinubu Urges Nigerians Abroad to Invest in Nation’s Economy
- China’s Imports From Nigeria Rose by $2.3bn in 6 Months — Envoy
- SK Hynix Tokenised bStock Up Ahead Incentive Program Deadline
- Tesla Tokenised bStock Climbs on Binance Ecosystem Growth
- UK Bans Ex-CEO Paul Taylor for False Statement in Bank, Football Club Bids
- Ripple XRP Plunges Below $1, Token Target Price Nosedives
- Fitch Affirms United Kingdom at ‘AA-’ With Stable Outlook
- Nigerian Equities Index Declines as Investors Lose Buying Appetite
MarketNews
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.
The rand is firmer against crosses, including the dollar (USD), the Euro (EUR) , and the British pound (GBP),
The overnight lending rate dropped slightly as financial system liquidity conditions
The Nigerian naira firmed to ₦1,362.5543 per US dollar at the official window on Tuesday, as forex supply eclipsed international payment requests.
Deposit Money Banks (DMBs), foreign portfolio investors (FPIs) chased Nigerian OMO bills with total subscription of N2.2 trillion, surpassing the offer size.
The money market has been flooded with a significant surge in liquidity amidst the latest open market operation auction, where the Central Bank auctioned OMO bills worth N600 billion for subscription.
The Central Bank of Nigeria (CBN) allotted OMO bills with 141 days to maturity worth N2.523 trillion at the spot rate of 20.10% on Monday to banks and foreign portfolio investors (FPIs).