EXPECTATIONS are high among market participants that the interbank rates will witness moderation due to anticipated boost in financial system liquidity.
According to dealers, Treasury Bills worth N51.99 billion will mature via Open Market Operation (OMO) while recent shared Federation Account Allocation Committee (FAAC) funds worth N647.3 billion are expected to hit the financial system in the new week.
Similarly, market participants said there will be inflows of N927.8 billion from OMO maturities and believe the CBN will conduct OMO auction.
They also believed increased liquidity resulting from the huge inflows from OMO maturities will pressure yields in the secondary Treasury Bills market.
Meanwhile, the Debt Management Office (DMO) has announced the appointment of CSL Stockbrokers Limited (CSL), a member of FCMB Group Plc, as the new government stockbroker.
CSL will replace Stanbic IBTC Stockbrokers Limited which has served in that capacity prior to the latest appointment.
The CSL’s mandate will include posting Bid and Offer Prices on the Nigeria Stock Exchange (NSE) for Nigerian government’s securities.
CSL was appointed as the government stockbroker on the basis of an open competitive bidding process participated by other stockbrokers.
CSL is expected to build on the achievements already recorded through this programme by increasing the participation of retail investors in all FGN Securities (FGN Bonds, FGN Sukuk, FGN Savings Bond and Green Bonds) listed and trading on the NSE.
The appointment of CSL as the government’s stockbroker is said to be a further demonstration of the commitment of the DMO to the development of the domestic market, promoting liquidity, as well as growing and diversifying the investor base.
In this interview with CHRISTIAN APPOLOS, Chief Emenike Ikedichi Ubani, a labour analyst and lecturer…
THE Real Estate Developers Association of Nigeria (REDAN) has vowed to champion advocacy for affordable…
IN the face of increasing urban challenges due to rapid urbanization, climate change and socio-economic…
OVER 10, 000 retired workers of the defunct Nigerian Telecommunications Limited (NITEL) and its mobile…
Ministry, DBI train 35 youths in digital skills THE Minister of Humanitarian Affairs and Poverty…
AS the 113th International Labour Conference (ILC) opens in Geneva, the continent’s leading employers and…
This website uses cookies.