THERE are anticipations among money participants that inflows from maturing Open Market Operation (OMO) instruments worth ₦476.4billion will shape the movement of rates this week.
However, “we expect CBN to keep rates and system liquidity in check through regular auctions,’ says dealers from Afrinvest (West) Africa Limited.
The Treasury Bills market continued its quiet trend, with slight activity skewed to the short to mid-end, as market players invest excess liquidity in available OMO bills. The mid-dated papers (August – October 2021 maturities) saw the most activity, as rates on those papers dropped drastically to 6.50 per cent levels. Demand for long-dated papers remained scarce most of the session as local banks remained wary of taking on duration ahead of an expected OMO auction.
“We expect a quiet session … as the market focuses on the likely OMO primary auction, with the CBN poised to retain OMO rates for a third consecutive week at over 10.00 percent for the one-year tenor,’ says dealers from Zedcrest Capital Limited.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Cryptocurrency: Understanding The Craze, Threat
ON Friday, February 6, the Central Bank of Nigeria (CBN) rocked the boat with a circular that inadvertently highlighted how popular cryptocurrency transactions have become among Nigerians in recent years, judging by…
ICYMI: Yoruba, Hausa Teachers Needed In US
The US Embassy and Consulate in Nigeria has announced that the services of Yoruba and Hausa teachers are needed in the United States. According to the Public Affairs Section of the US Mission Nigeria…
After Two Years, Daddy Freeze Apologises To Bishop Oyedepo
Daddy Freeze whose real name is Ifedayo Olarinde has apologised to Bishop Oyedepo who is the presiding bishop and founder of Living Faith Church aka Winners Chapel…
The Saudi Ministry of Hajj and Umrah on Sunday revealed that more than 500,000 pilgrims…
The national leadership of a faction of the New Nigeria Peoples Party (NNPP) has cautioned…
An elder statesman, Alhaji Tanko Yakasai, has said that at the moment, nobody has better…
•Restructuring of security architecture, bi-camera legislature, revenue formula on agenda•Moved from May 27, 28 to…
The Power of Unity presents a heartfelt and ambitious narrative centered on the enduring strength…
Your reward is never in what you do like others. It is in what you…
This website uses cookies.