By Modupe Gbadeyanka
This Thursday, investors will anticipate treasury bills valued N315.6 billion to mature via the secondary market.
According to analysts at Cowry Asset, this is expected to boost liquidity; “hence we expect interbank rates to trend downwards.”
Last week, the Central Bank of Nigeria (CBN) auctioned treasury bills worth N254.64 billion in the primary market.
Amid elevated political risk, stop rates for the 182-day maturity rose to 13.50 percent from 13.10 percent.
However, the stop rate for the 91-day and 364-day auctioned T-bills remained unchanged at 11.00 percent and 15.00 percent respectively.
The apex bank also sold N134.69 billion worth of bills in the secondary market; hence, the total outflows worth N389.33 billion partly offset the inflows from the matured T-bills worth N446.68 billion. The net inflow resulted in financial system liquidity ease in line with expectation.
Hence, NIBOR for overnight funds, 1 month and 3 months tenure buckets moderated to 11.12 percent from 12.96 percent, 12.14 percent from 13.18 percent and 12.99 percent from 13.49 percent respectively. However, NIBOR for 6 months tenure buckets rose to 15.04 percent from 14.87 percent.
Meanwhile, NITTY continued to move in mixed directions across maturities tracked. While yields on 1 month and 3 months maturities fell to 10.41 percent from 12.06 percent and 11.84 percent from 12.33 percent respectively, yield on the 6 months and 12 months maturities rose to 14.27 percent from 14.06 percent and 17.40 percent from 17.11 percent respectively.
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
- Stock Investors Manage N2bn Gain as Results Dampen Spirits April 23, 2021
- Brent Climbs as Libyan Production Dips April 23, 2021
- 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
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