System Liquidity: Liquidity rose 3.35% to c. ₦3.71trn. The Overnight rate edged up to 20.85%, and the Open Repo rate was flat at 20.40%. Liquidity should stay in surplus. Treasury Bills: The market was mixed. The 91-day yield fell 31bps to 17.25%, the 180-day was flat at 17.70%, and the 365-day rose 43bps to 18.64%. […]

System Liquidity: Liquidity fell 9.30% to c. ₦3.59trn. The Open Repo and Overnight rates were not updated when the report was done, so they are held at 20.00% and 20.65%. Liquidity should stay in surplus. Treasury Bills: Yields fell 1bp across the curve to 17.57%, 17.70% and 18.21% for the 91-, 180- and 365-day bills. […]

System Liquidity: Liquidity fell to c. ₦3.96trn after a late OMO settlement, but the average funding cost eased 27bps to 20.33%. Banks placed c. ₦3.76trn at the SDF window. Liquidity should stay in surplus. Treasury Bills: The DMO sold c. ₦968.47bn at the first NTB auction of Q4, above the ₦900bn offered, at stop rates […]

System Liquidity: Liquidity rose 40.52% to c. ₦7.09trn, but the CBN’s OMO sale pushed the average funding cost up 32bps to 20.59%. Treasury Bills: Sentiment was soft ahead of the NTB auction. The average yield fell 1bp to 17.85%. FGN Bonds: Trading was calm with a bearish tilt. The average yield rose 6bps to 15.76%. […]

System Liquidity: Liquidity rose 3.89% to ₦5.05trn from ₦4.86trn, as banks placed c. ₦4.86trn at the SDF window with no recourse to the SLF. The OPR fell 40bps to 20.00% and the overnight rate fell 26bps to 20.54%, pulling the average funding cost down 33bps to 20.27%. NOFR held at 20.00% and the average T-bill […]

System Liquidity: The ₦4.69trn OMO sale settled and cut liquidity to ₦4.70trn from ₦8.84trn. Liquidity then rose 3.32% to ₦4.86trn. The OPR rose 40bps to 20.40% and the overnight rate rose 41bps to 20.80%. NOFR held at the 20.00% floor and the average T-bill rate was flat at 17.81%. Treasury Bills: Yields eased across the […]

System Liquidity: Liquidity rose 37.01% to ₦8.84trn from ₦6.45trn. The overnight rate rose 28bps to 20.86%, NOFR held at the 20.00% floor, and the average T-bill rate was flat at 17.84%. Treasury Bills: The CBN sold ₦4.69trn of OMO bills against ₦2.5trn offered, at stop rates of 16.23% to 17.24%. The 365-day eased 13bps to […]

System Liquidity Liquidity rose 7.92% to ₦6.45trn from ₦5.98trn. NOFR held at the 20.00% floor, and the average T-bill rate eased 5bps to 17.84%. Treasury Bills Trading quietened after last week’s rally. The 91-day and 365-day each eased 3bps, to 17.65% and 18.38%. The 180-day rose 1bp to 17.79%, and the average ended at 17.94%. […]

System Liquidity Liquidity fell 16.40% to ₦5.98trn from ₦7.15trn as ₦6.09trn in bids chased ₦1trn of OMO bills. The OPR eased 40bps to 20.40% and the overnight rate 21bps to 20.77%. Treasury Bills Record-low auction stop rates pulled rates down, led by the 91-day, down 37bps to 17.68%. The 180-day eased 15bps to 17.77% and […]

System Liquidity Liquidity fell for the first time in five days, down 4.02% to ₦7.15trn from ₦7.45trn. The OPR eased 20bps to 20.80% and the overnight rate 78bps to 20.98%. Treasury Bills Lower auction stop rates pulled rates down, led by the 365-day, down 60bps to 18.52%. The 91-day and 180-day eased 1bp each to […]