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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 Federal Government of Nigeria (FGN), through the Debt Management Office ….
The fixed income market recorded a rush for Nigerian treasury bills on Thursday, following the monetary authority’s rejection of 60% of total subscriptions at the main auction on Wednesday.
Money market rates were mixed as financial system liquidity shrank following the Central Bank of Nigeria’s (CBN) aggressive sterilisation of funds.
The market anticipates a bullish run in secondary market transactions for Nigerian Treasury bills on Thursday, a day after the Central Bank of Nigeria (CBN) rejected 60% of the aggregate subscription at its auction.
The Central Bank of Nigeria (CBN) reduced the Treasury bills spot rate by 4 basis points to 17.66%, according to details from primary market auction results obtained by MarketForces Africa.
The average yield on Nigerian Treasury bills declined as fixed income investors piled into positions ahead of the midweek auction, Broadstreet traders said.