- Pension Fund Assets Rise to N31.8trn in August- PenCom
- OpenAI Released GPT-6.1 Sol Model, Priced Below Competitors
- NCC Seeks Greater Digital Infrastructure Investment at Nigeria Digital Connectivity Investment Forum
- No Date Yet for IPO, Listing Decision Rests with Stakeholders – NNPC
- OMO Bills: CBN Raises N4.7T from Investors as Subscription Hits N6.4T
- NVIDIA Tokenized bStocks Dips as Investors Book Profits
- Kora Adds Stablecoin Payments for African Merchants Through One Rail
- NGX Index Slumps as GTCO, BUA Shareholders Trim Holdings
MarketNews
The Central Bank of Nigeria (CBN) raised about N4.7 trillion (N4,686,266,639,000) from fixed-interest securities investors through OMO bill allotments across three maturities.
Nigerian OMO bills auctioned by the Central Bank last week attracted N6.1 trillion from investors chasing double-digit returns on naira-denominated assets.
The average yield on Nigerian Treasury bills declined by 90 basis points (bps) in the secondary market as investors increased bets on naira assets, prompting sharp repricing.
The mood on Nigerian Treasury bills continues to swing after investors spotted that the central bank has continued to slash rates at its main auctions.
Interbank rates fell sharply inflows from the Federal Account Allocation Committee (FAAC), which hit the financial system on Monday.
With expectation of a slowdown in bond supply, investors ramped up the Federal Government of Nigeria (FGN) in the secondary market ahead of the auction on Monday.
Nigeria’s top investment banking firm, CardinalStone Limited, has slashed Airtel Africa’s 12-month price target amidst expectation that the telecom company will return to profitability in the financial year 2024/2025.
Fidson Healthcare Plc’s market valuation increased by about 22% in the equities market after the pharmaceutical company announced strategic deals it closed with three Chinese firms.
Caverton Offshore Support Group topped performers on the Nigerian Exchange with more than 45% positive price appreciation…