Friday, May 14, 2021

NIBOR Moves in Mixed Directions across Maturities Tracked…

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Bola Macaulay
Bola Macaulay is a freelance journalist based in Ibadan Oyo State. She is a graduate of Univesity of Ibadan and she's married with kids

In the just concluded week, activity in the primary market was muted as there were neither auctions nor matured T-bills.

However, the Standing Standing Deposit Facility (SDF) worth N117.02 billion outweighed the (SLF) worth N10.26 billion
– indicative of financial system liquidity ease as deposit money banks deposited more money with CBN than they borrowed from it.

Hence, given the financial system liquidity boost, NIBOR for 3 months and 6 months tenor buckets moderated
to 4.44% (from 4.65%) and 4.69% (from 5.27%) respectively.

However, NIBOR for overnight funds and 1 month rose to 8.0% (from 1.30%) and 4.49% (from 3.98%) respectively.

Meanwhile, NITTY moved in mixed directions across maturities, while yields on 1 month and 6 months maturities moderated to 1.05% (from 1.19%) and 1.55% (from 1.73%) respectively, yields for 3 months and 12 months maturities rose to 1.30% (from 1.27%) and 3.10% (from 3.00%) respectively.

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