By Dipo Olowookere
Last week, treasury bills worth N226.68 billion were sold by the Central Bank of Nigeria (CBN) via the Open Market Operations (OMO) to refinace the matured T-bills worth N226.68 billion.
As a result, according to analysts at Cowry Asset, NIBOR for all tenor buckets rose on renewed liquidity strain: NIBOR for overnight, 1 month, 3 months and 6 months tenor buckets rose w-o-w to 3.59% (from 3.38%), 12.05% (from 11.31%), 14.00% (from 12.57%) and 15.84% (from 13.56%) respectively.
Elsewhere, NITTY rose for most maturities tracked on renewed sell pressure: yields on the 1 month, 3 months and 6 months maturities rose to 8.68% (from 8.16%), 10.92% (from 10.01%) and 11.55% (from 11.15%) respectively; however, yield on the 12 months maturity fell to 12.62% (from 12.90%) respectively.
Meanwhile, Standing Deposit Facility (SDF) worth N735.43 billion outweighed, Standing Lending Facility (SLF) worth N289.21 billion.
This week, T-bills worth N371.83 billion will mature via both the primary and secondary market while N626.8 billion that will be disburbed by Federation Account allocation Committee (FAAC) should boost liquidity; hence, we expect ease in financial system liquidity with accompanying moderation in interbank rate.
more recommended stories
Board Seeks Shareholders’ Nod to Sell Dangote Flour for N130bn
By Dipo Olowookere The board of.
Seplat, 18 Other Equities Lift Market by 0.07%
By Modupe Gbadeyanka The equity market.
Linkage Assurance Declares N290bn Loss in 2018
By Modupe Gbadeyanka In the 2018.
Oando Improves PAT by 9.5% to N4.6bn in Q1’19
By Modupe Gbadeyanka Leading energy firm.
NBET Blames Media for Poor Investment in Power Sector
By Modupe Gbadeyanka Members of the.
CCNN Nets N3.6bn Profit as Revenue Rises 213% in Q1 2019
By Dipo Olowookere On Thursday, one.
Nigerian Breweries Woes Sink Q1 2019 Profit by 22%
By Dipo Olowookere Since the Nigerian.
Investors Oversubscribe Nigeria’s 30-Year Bond by 400%
By Dipo Olowookere On Wednesday, the.