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NIBOR Moderates for all Maturities amid Financial System Liquidity Ease…

In the just concluded week, CBN refinanced N100 billion worth of OMO bills from matured T-bills worth N296.03 billion.

Hence, the financial system liquidity was boosted by the net position of N196.03 billion, with a resultant drop in NIBOR for most tenor buckets.

NIBOR for 1 month, 3 months and 6 months rose to 1.70% (from 2.26%), 1.91% (from 2.70%) and 1.87% (from 3.14%) respectively.

However, NIBOR for Overnight funds rose to 13.00% (from 1.25%).

Elsewhere, NITTY further moved southward for all maturities tracked amid demand pressure.

Specifically, yields for 1 month, 3 months, 6 months and 12 months maturities moderated to 0.40% (from 0.54 %), 0.49% (from 0.57%), 0.58% (from 0.84%) and 1.10% (from 1.57%) respectively

In the new week, T-bills worth N490.46 billion will mature via the primary and the secondary markets which will outweigh T-bills worth N154.37 billion to be auctioned by CBN via the primary market; viz: 91-day bills worth N49.84 billion, 182-day bills worth N10.62 billion and 364-day bills worth N93.92 billion. Hence, we expect the stop rates of the issuances to decline amid demand pressure even as N336.09 billion worth of OMO bills mature.

Naija247news, Nigeria
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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