By Cowry Asset
In the just concluded week, there were secondary market auctions worth N193.04 billion which more than offset maturities worth N14.65 billion, viz: 167-day and 168-day bills worth N7.976 billion and N6.674 billion respectively.
Consequently, NIBOR increased across most of the maturities: NIBOR for 1month, 3 months and
6 months increased w-o-w to 19.88 percent (from 19.49 percent), 22.71 percent (from 21.24 percent) and 23.61 percent (from 23.42 percent) respectively.
However, NIBOR for overnight funds fell to 11.32 percent (from 13.07 percent).
Meanwhile, Federation Accounts Allocation Committee (FAAC) announced the sharing of N467.8 billion to the three tiers of government.
Elsewhere, NITTY rose for all the maturities– yields on the 1month, 3 months, 6 months and 12 months maturities rose to 18.28 percent from (17.77 percent), 20.30 percent (from 19.45 percent), 20.38 percent (from 19.79 percent) and 22.39 percent (from 22.13 percent) respectively.
This week, we expect maturities via primary market worth N88.14 billion viz: 91-day bills worth N26.14 billion and 182-day bills worth N62 billion; even as FAAC disbursements are expected to hit the financial system.
Hence, we look forward to financial system liquidity ease and resultant decline in interbank rates.
more recommended stories
SEC Modifies Processes of Listing on Nigerian Stock Exchange
By Modupe Gbadeyanka In order to.
Forte Oil to Pay Interim Dividend of N1.15k June 10
By Dipo Olowookere The board of.
NSE Releases Effective Dates of Five New Rules
By Dipo Olowookere The Nigerian Stock.
Wari Takes Financial Services Closer to Customers on WhatsApp
In order to make its customers.
Second 30-Year Bond Sale Records 336% Subscription
By Dipo Olowookere At the May.
FBNQuest Complies With GIPS to Boost Investor Confidence
A subsidiary of FBNQuest Merchant Bank.
Stock Market Gains N408bn as MTN Nigeria Listing Frenzy Persists
By Dipo Olowookere Transactions on the.
Facebook NG_Hub Trains 50,800 SMBs in Digital Skills
By Modupe Gbadeyanka Not less than.