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MarketNews
The Central Bank of Nigeria (CBN) allotted OMO bills to match the aggregate subscription from investors seeking high-yield naira assets at the primary market auction.
Nigerian deposit money banks (DMBs) placements at the Central Bank of Nigeria (CBN) Standing deposit Facility (SDF) window edged higher on midweek as the authority slowdown aggressive liquidity management action.
Excess liquidity in the Nigerian financial system surged about 33% after heavy OMO bill
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.
The Central Bank of Nigeria (CBN) conducted an open market operation on Tuesday, offering N600 billion in OMO bills for subscription across four tenors.