The average yield on Nigerian Treasury bills slide by 10 basis points to close at 12.57% amidst sustained buying interest in Naira-denominated instruments despite falling local currency.

The financial markets players and FX traders have bided the Nigerian a long goodbye as the official exchange rate worsened to N956 to a US dollar.

Nigeria’s economic growth slowed down in the second quarter (Q2) of 2023, according to data released

Equities Investors’ Wealth Rises by N27bn as NGX Rallies

Crude oil prices tumbled after the anticipated OPEC+ meeting, during which member producers are expected to decide production quotas for 2024, was postponed to Nov. 30.

Unity Bank Plc and Cashtoken, have announced a partnership to deploy a patronage reward product that will see the Bank’s customers winning millions of Naira in cash rewards, guaranteed instant cashback, and offer a life-changing opportunity.

The Central Bank of Nigeria (CBN) adjusted spot rates on Treasury bills by 100 basis points at the just concluded primary market auction, according to the results.

Trading activities on Nigerian Treasury bills ended in a quiet mood amidst declining liquidity in the financial system. Fund managers and other market participants shifted focus to the primary auction.

The Bauchi state Commissioner for Information and Communication, Mr Usman Garba, says that the state government has concluded plans to commence the construction and rehabilitation of 200 kilometres of roads at a cost of N100 billion.

As risk-off sentiment doused, foreign investors increased their position in Nigerian sovereign US dollar bonds. The trading pattern observed in the international market showed that US Treasury yields have been swinging following the Federal Reserve’s decision to maintain the status quo on rates. The market has been reacting to Jerome Powell’s hawkish tone.