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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 overnight lending rate has decreased by 2 basis points as excess liquidity in the financial system continues to ease interbank borrowing pressures.
The average yield on Nigerian government bonds declined in the secondary market as investors increased their bets in the local debt capital market.
Trading activity in the Nigerian Treasury bills (NTB) secondary market was mildly positive…
Interbank funding rates diverge amid surplus liquidity in the financial system, reflecting the absence of significant pressure in the money market.
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.