By Dipo Olowookere
It was bearish treasury bills market on Friday with some sell on the short end of the curve due to the liquidity squeeze in the market.
The Central Bank of Nigeria (CBN) on Friday auctioned N11.72 billion worth of 188-day bills via the open market operations (OMO).
Business Post reports that the bills were offered to traders by the apex bank at the market at the stop rate of 17.80 percent.
However, the central bank offered N50 billion worth of 97-day bills but no offers were received from investors.
Meanwhile, at the close of business yesterday, the open buy back (OBB) and the overnight rates broadly increased compared with the previous day.
For the overnight rate, it finished on Friday at 39.42 percent compared with 7 percent it ended on Thursday, while the open buy back (OBB) rate closed at 36.33 percent against 6.33 percent the previous day.
more recommended stories
Allianz Nigeria to Expand Operations to Cement, Construction
By Dipo Olowookere Shareholders of Allianz.
Oando in Fresh Trouble
**Over Supply of Iranian Oil By.
Oil Prices Rise as Iran Seizes British Oil Tanker
By Adedapo Adesanya Crude oil prices.
Naira Slightly Gains Against USD at I&E Window
By Adedapo Adesanya At the end.
One-Month Treasury Yield Falls to 8.99%
By Dipo Olowookere The secondary market.
Nigeria’s Eurobonds Debt Rises to $10.9bn from $1.5bn in 2015
By Adedapo Adesanya Nigeria’s external debt.
LCCI to CBN: Cash Reserve Ratio of 22.5% too High
By Adedapo Adesanya The Lagos Chamber.
Nigerian Stocks Regain Freedom After 7-Day Hostage, up 0.20%
By Dipo Olowookere After being in.