- Fitch Maintains U.S. Credit Rating at ‘AA+’ with Stable Outlook
- Oil Prices Rise 4% Week-on-Week on Renewed Supply Risk
- 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
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.
Reflecting weak appetite for loans, deposit money banks (DMBs) significantly increased their placements at the Central Bank’s Standing Deposit Facility (SDF) window, reaching N6 trillion as of Thursday.
CBN to Sell Nigerian Treasury Bills to Investors Midweek After weak OMO bills auction delivered…
Money market rates closed mixed despite a significant surge in financial system liquidity at the beginning of the week. The overnight lending rate rose, but the repo rate closed flattish.
The average yield on Nigerian OMO bills climbed to 21.1% in the secondary market, reflecting investors’ measured decisions to adjust their holdings in these short-term investment securities.
Banks Boost Financial System Liquidity Ahead of OMO Debit Banks’ placement at the Central Bank…
Inflows from expired OMO bills and from deposit money banks (DMBs)’ lodgments buoyed liquidity in the financial system, investment firms said in separate market updates.