Equities investors gained about N77 billion in the Nigerian stock market on Tuesday due to sustained bargain hunting in Stanbic IBTC, Aradel Holdings.

Nigerian Treasury Bills Yield Shrinks to 25.7% vs Inflation As demand for naira assets increased,…

Foreign portfolio investors (FPIs) trimmed interest in Nigeria’s Eurobonds as headline inflation surged to 34.60%

Nigeria’s 5-year bonds were priced higher by 14 basis points (bps) at the primary market auction (PMA)  conducted by the Debt Management Office (DMO) on Wednesday.

Interbank rates eased in the money market following a moderate inflow and signature bonus that boosted the balance in the financial system at the beginning of the week. The market also received N9.52 billion in FGN coupon payments.

The naira depreciated against the US dollar in the official market due to insufficient FX liquidity to meet foreign currency demand. The local currency has been struggling to keep value amidst increasing demand for a preferred foreign currency, the US dollar.