Browsing: Banks

The Securities and Exchange Commission (SEC) says not less than N1.682 trillion has been raised by banks through e-offering in the recapitalisation exercise. Dr Emomotimi Agama, the Director- General of SEC, said this in a statement on Wednesday in Lagos.

Deposit money banks borrowed about N1.8 trillion from the Central Bank of Nigeria’s (CBN) standing lending facility (SLF) window to support liquidity requirements, according to updates from the Broadtsreet.

Nigeria’s Eurobonds Yield Rises 7bps after U.S Inflation Jumps Average yield on Nigerian Eurobond rose by 7 basis points (bpd)…

The money market rates heated up further due to deficit balance in the financial system. The short-term benchmark rates continue to surge in the week after successive primary auction sales caused huge outflow in recent past week.

In the bonds market, trading activity remained muted, with the average yield holding steady at 19.41%.  The subdued yield on FGN bonds and tight liquidity in the financial system has keep trading activities in check.

Money Market Rates Surge on Deficit Liquidity in Banking System Money market rates were tightened due to a negative liquidity…

Nigeria’s Gross External Reserves Cross $40 Billion Nigeria’s gross external reserves increased by $7 billion from the beginning of the…

The Nigerian naira appreciated in the official window as foreign reserves surged to approximately $40 billion

Local deposit money banks (DMBs) and foreign portfolio investors (FPIs), along with other authorized dealers, placed huge stake totaling approximately N1.45 trillion on Nigeria’s OMO bills during the Central Bank of Nigeria’s (CBN) primary market auction on Tuesday.

The benchmark yield on Nigerian government bonds retraced as asset managers, and local deposit money banks with surging liquidity parked their free cash into debt papers.