EXPECTATIONS are high that a liquidity boost from maturing N155.62 billion worth of Treasury Bills (TB) and Open Market Operation (OMO) bills will keep rates in the money market moderate in the new week.
Dealers said T-Bills worth N150.62 billion and OMO worth N5 billion are expected to mature and they expect activity in the money market to be slightly bullish as the market expects a liquidity boost from the maturities.
Meanwhile, the Debt Management Office (DMO) announced the issuance of the Federal Government Savings Bond consisting of two years and three years tenor.
The interest rates for the two years and three years are 9.413 per cent and 10.413per cent per annum, respectively.
However, when compared to the previous auction, the rate is higher than 8.075 per cent and 9.075 per cent recorded at the July auction because of the hawkish Monetary Policy Rate (MPR).
The auction, according to dealers, closed on Friday, August 5 with a minimum subscription of N5,000 and a maximum of N50,000.
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