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N62.4b Bills Mature via Primary Market

By Cowry Asset

Last week, there were maturities via primary market, viz: 91-day and 182-day bills worth N32.436 billion and N30.000 billion respectively.

Consequently, NIBOR fell across most of the maturities amid renewed liquidity ease.

NIBOR for overnight funds, 3 months and 6 months fell w-o-w to 13.07 percent (from 56.54 percent), 21.24 percent (from 22.10 percent) and 23.42 percent (from 23.54 percent) respectively.

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However, NIBOR for 1month rose to 19.49 percent (from 19.04 percent).

Elsewhere, NITTY moved in mixed directions across the maturities– yields on the 1month and 3 months maturities rose to 17.77 percent from (14.41 percent) and 19.45 percent (from 19.43 percent) respectively.

However, six months and 12 months yield fell to 19.79 percent (from 20.36 percent) and 22.13 percent (from 22.30 percent) respectively.

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This week, we expect maturities via secondary market worth N14.65 billion viz: 167-day bills worth N7.976 billion and 168-day bills worth N6.674 billion.

We expect further financial system liquidity ease and stability in interbank rates.

Cowry Asset

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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