System Liquidity: Up 6.30% to ₦7.37 trillion, with the overnight rate holding near the 20.00% OPR. Treasury Bills: The market was mixed with a slight selling bias. The CBN’s OMO sale made investors cautious, and the average yield rose 5bps to 17.97%. FGN Bonds: Yields were mixed, and the DMO sold just ₦71 billion of […]

System Liquidity: Liquidity stayed in surplus at ₦8.59 trillion, down ₦760 billion, with no OMO or primary market inflows. The OPR stayed at 20.00% and the overnight rate stayed near 20.4%. Treasury Bills: The market was little changed, and the average rate eased 1bp to 17.91%. At the auction, investors bid ₦1.91 trillion but only […]

System Liquidity: Liquidity surged 28% (₦2.05 trillion) to ₦9.35 trillion, helped by a ₦2.13 trillion OMO repayment. The overnight rate fell 45bps to 20.36%, close to the 20.00% OPR. Treasury Bills: The NTB market was little changed. The average rate eased 1bp to 17.92%, and the 91-day, 180-day and 365-day yields each fell 1bp. FGN […]

System Liquidity: Liquidity rose 5.36% to ₦7.31 trillion. The OPR stayed at 20.00%, while the overnight rate rose 45bps to 20.81%. Treasury Bills: The 91-day yield fell 3bps to 17.61% and the 365-day fell 2bps to 18.30%, while the 180-day rose 68bps to 17.76%. FGN Bonds: Flat. All benchmark yields were unchanged: 3-year 16.43%, 5-year […]

System Liquidity: Liquidity stayed in surplus all week. It opened at ₦6.28 trillion, peaked at ₦8.40 trillion and closed at ₦6.94 trillion, with the CBN taking out ₦2.63 trillion through OMO sales. The OPR held at 20.00% and the overnight rate fell 2bps to 20.36%. Treasury Bills: The market was mixed with a slight selling […]

System Liquidity: Liquidity fell 6.13% to ₦7.26trn. The OPR stayed at 20.00% and the overnight rate rose 4 bps to 20.34%. Treasury Bills: Yields were little changed. The 91-day fell 1 bp to 17.48%, the 180-day fell 1 bp to 17.10%, and the 365-day fell 9 bps to 18.49%. FGN Bonds: Yields fell, with buying […]

System Liquidity: Cash improved 32.45% to ₦7.74trn on OMO inflows, and the overnight rate eased 14bps to 20.30%. Treasury Bills: Yields were flat, with the 91-day at 17.49%, the 180-day at 17.11% and the 365-day at 18.58%. FGN Bonds: Buyers came back after the auction, led by the 2034, 2036 and 2038 bonds, and the […]

System Liquidity: Cash in the system fell 7.04% to ₦5.84trn, but it is still high enough to keep funding costs steady. Treasury Bills: Yields fell across the curve on high liquidity. The 91-day bill is at 17.50%. FGN Bonds: Yields rose after the October bond auction. The 20-year jumped 35bps to 15.12%. Foreign Exchange: The […]

System Liquidity: System liquidity rose 55.42% to c.₦6.28trn from c.₦4.04trn on 12-Oct. The overnight rate eased 34bps to 20.38%, and the average T-bill rate fell 153bps to 16.34%. Treasury Bills: The NTB market was mixed. The 91-day yield rose 30bps to 17.53%, while the 365-day fell 10bps to 18.61%. FGN Bonds: Yields rose, led by […]

System Liquidity: System liquidity moderated 3.88% to c. ₦6.06trn but is still high. The Overnight rate eased to 20.38%, and the average funding cost fell 2bps to 20.19%. Treasury Bills: The NTB market was flat, with yields unchanged across the curve. The CBN’s ₦269bn auction from the previous day settled, taking cash out of the […]