Economy
CBN Cuts T-Bills Rates, Offers 364-Day Bill at 12.94%
By Dipo Olowookere
The Central Bank of Nigeria (CBN) on Wednesday lowered stop rates of the treasury bills it offered for sale to investors at the primary market auction. This was predicted ahead of the exercise, which was oversubscribed to.
The apex bank had brought to the market the debt instruments worth N122 billion, but during the auction, it received subscriptions valued at N634.12 billion.
As usual, the T-bills were offered in three maturities; the 91-day, 182-day and 364-day, but traders were more interested in the one-year debt instrument like in the past sales.
The bank, at the exercise, auctioned N5.85 billion worth of the 91-day bills, N3.50 billion worth of the 182-day bills and N112.54 billion worth of the 364-day bills.
However, it received from market players offers worth N9.39 billion for the 91-day instrument, N38.09 billion for the 182-day tenor and N586.64 billion for the 364-day maturity.
At the close of the bidding, the central bank allotted N5.85 billion worth of the 91-day bills, N3.50 billion worth of the 182-day bills and N112.54 billion worth of the 364-day bills, with the stop rates clearing at 10.80 percent, 11.00 percent and 12.94 percent respectively.
When compared with the previous exercise held on October 2, 2019, stop rates for the 91-day bill was reduced by 0.28 percent (11.08 percent in the previous PMA), the 182-day bill by 0.60 percent (11.60 percent) and the 364-day bill by 0.26 percent (13.20 percent).
As demand for the treasury bills continues and foreign portfolio investors back in the system, the apex bank is expected to gradually trim the rates until another need for hike in the rates to attract ‘fleeing investors’.
At the secondary market, activities were in cautious mode as a result of concentration on the primary market. At the close of transactions, the average yields went down by 0.12 percent to settle at 12.30 percent.
Business Post reports that yields went down across the four tenors tracked during the session.
Yield on the one-month instrument declined by 0.07 percent to close at 11.06 percent against 11.13 percent of the previous session. Yield on the three-month bill fell by 0.19 percent to 11.66 percent from 11.85 percent, the one on the six-month maturity depreciated by 0.22 percent to 12.12 percent from 12.34 percent, while the 12-month tenor dropped 0.01 percent to 14.34 percent from 14.35 percent.
**Revokes Trading Licences of LMB, Platinum Stockbrokers
By Aduragbemi Omiyale
A stockbroking company, Premium Capital and Stockbrokers Limited, has been fined N5 million for engaging in “unauthorised sale of its clients’ securities.”
A circular issued by the Nigerian Exchange (NGX) Regulation Limited disclosed that the trading licence of the organisation has also been revoked.
In the notice signed by the Head of Market Regulation for NGX RegCo, Chinedu Akamaka, Premium Capital violated Rule 11.9 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules), which focuses on the Prohibition of Unauthorised Sale of Securities.
Business Post reports that Premium Capital was not the only stockbroker that had its trading licence withdrawn, as it also affected others.
The licence of LMB Stockbrokers Limited was revoked by NGX RegCo for prolonged inactivity, which falls contrary to Rule 6.4: Revocation of Inactive Dealing Members’ Licences, Rulebook of The Exchange, 2015 (Dealing Members’ Rules), as amended.
The same also affected Platinum Stockbrokers Limited, which has not witnessed activity on the floor of the NGX Limited for a while.
Similarly, the authorised dealing clerkship of Mr Bernard Oluwole Ilori, was taken back with immediate effect in alignment with an earlier determination by the Securities and Exchange Commission’s (SEC) Administrative Proceedings Committee (APC), which arose from his involvement in regulatory infractions connected to Mutual Alliance Investment and Securities Limited and resulted in his 10-year ban from the Nigerian capital market since March 25, 2021.
Investors have been “strongly advised not to engage in any activity with the firms” whose trading licenses have been revoked.
By Aduragbemi Omiyale
The securities of DN Tyre and Rubber Plc, and Greif Nigeria Plc have been delisted by the regulatory arm of the Nigerian Exchange (NGX) Group Plc, NGX Regulation Limited.
A statement signed by the Head of the Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, said the delisting became effective on Thursday, April 9, 2026.
In the notice issued yesterday, it was further disclosed that the action complied with the provisions of Clause 14 of the Amended Form of General Undertaking, for Listing on Nigerian Exchange Limited General Undertaking.
According to this clause, “The exchange reserves the right to, at its sole and absolute discretion, suspend trading in any listed securities of the Issuer, delist such securities, or remove the name of the issuer (listed company) from the daily official list of the exchange with or without prior notice to the issuer, upon failure of the issuer to comply with any one or more of the provisions of this General Undertaking, or when in its sole discretion, the exchange determines that such suspension of trading or delisting is in the public interest, or otherwise warranted.”
It was explained that the shares of the two firms were delisted because they fell below the listing standards.
“The securities of DN Tyre and Rubber Plc and Greif Nigeria have been delisted from the facilities of Nigerian Exchange Limited (NGX) effective Thursday, April 9, 2026, on the grounds that the companies are operating below the listing standards of NGX and their securities are no longer considered suitable for continued listing and trading in the market,” the disclosure noted.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange declined by 0.95 per cent on Thursday, April 9, plunging the Unlisted Security Index (NSI) by 37.41 points to 3,893.50 points from 3,930.91 points.
In the same vein, the market capitalisation lost N22.38 billion during the session to N2.329 trillion from the N2.351 trillion it ended at midweek.
The OTC securities exchange was under selling pressure yesterday, resulting in a negative market breadth index after three securities lost weight and one gained weight.
Central Securities Clearing System (CSCS) Plc led the losers’ table after it shed N3.74 to sell at N64.21 per unit versus N67.95 per unit. Food Concepts Plc went down by 19 Kobo to N2.68 per share from N2.87 per share, and Free Range Farms Plc dropped 10 Kobo to settle at 90 Kobo per unit versus N1.00 per unit.
On the flip side, MRS Oil gained N5 to close at N165.00 per share compared with the preceding day’s N160.00 per share.
At the trading session, there was a 23.5 per cent jump in the value of securities to N40.4 million from N32.7 million, but the volume of securities fell by 81.9 per cent to 1.04 million units from 5.7 million units, and the number of deals went down by 29.7 per cent to 26 deals from the preceding session’s 37 deals.
At the close of transactions, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 57.5 million units exchanged for N3.9 billion, and Okitipupa Plc with 27.5 million units traded for N1.8 billion.
Also, GNI Plc ended the trading day as the most traded stock by volume on a year-to-date basis with the sale of 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units worth N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
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