Treasury bills worth N622.2 billion were sold to investors last week by the Central Bank of Nigeria (CBN) via the primary and secondary markets, Cowry Asset has said.
For the primary market issues, stop rates for the 182-day and 364-day bills increased to 12.60 percent from 12.20 percent and 12.85 percent from 12.35 percent respectively and may be in line with recent signalling from the apex bank to maintain positive real returns on investments in order to attract investments to help finance a planned N1.6 trillion fiscal deficit.
However, the 91-day stop rate fell to 10.29 percent from 10.30 percent in line with expectations.
The outflows more than offset inflows worth N204.32 billion in matured bills; however, NIBOR fell for most tenor buckets.
Specifically, NIBOR for 1 month, 3 months and 6 months tenure buckets moderated to 11.41 percent from 20.20 percent, 12.66 percent from 12.92 percent and 14.69 percent from 15.14 percent respectively.
However, overnight funds rate increased to 15.65 percent from 11.40 percent.
Elsewhere, NITTY moved in mixed directions – yields on 3 months and 12 months maturities rose to 12.16 percent from 11.00 percent and 14.51 percent from 14.49 percent respectively.
However, 1 month and 6 months yields fell to 10.10 percent from 10.77 percent and 13.89 percent from 14.05 percent respectively.
In the new week, CBN will retire T-bills worth N33.02 billion, hence, the interbank interest rates are expected to remain stable on anticipated thin financial system liquidity.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
Like Our Facebook Page
Latest News on Business Post
- Onne Customs Raises Revenue 69.4% to N38.9 billion in Q1 2021 April 22, 2021
- YouTube Launches Inaugural Africa Reading Challenge April 22, 2021
- Audiomack, MTN Develop Data Bundle for Music Streaming April 22, 2021
- FCTA to Reward High Impact Entrepreneurs April 22, 2021
- CSCS Assures Shareholders Sustainable Value, to Pay N1.17 Dividend April 22, 2021
- Fitbit Unveils Device to Track Users’ Fitness, Wellness April 22, 2021
- UK Expresses Willingness to Attract More Investments to Nigeria April 22, 2021
- How to Invest in Stocks in Nigeria: Guide for Beginners April 22, 2021
- Jumia Employee Taking Pleasure in Meeting e-Commerce Needs of Rural Dwellers April 22, 2021
- Over 4 million Investors’ Accounts Have Incomplete KYC Data—SEC April 22, 2021
Economy5 years ago
Kwara Disburses N1.7b For Projects
Technology4 months ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Economy3 years ago
FAAC: FG, States, LGs Share N655.18b in January
Feature/OPED1 year ago
Davos was Different this year
Feature/OPED1 month ago
COVID and the Growth of Technology in Nigeria
Economy1 month ago
MBA Forex Blames CBN for Inability to Return Investors’ Funds
General2 years ago
Ikeja Electric Explains How to Get Prepaid Metres via MAP
Banking3 years ago
Sort Codes of GTBank Branches in Nigeria