There were no significant inflows into Nigeria’s Interbank market on Wednesday as calm pervaded, with rates expected to stabilize Thursday on the back of OMO maturities of N267bn.
OBB and Overnight rates however inched up slightly, closing at 16.67% and
18.42%.

Treasury bills
The same mixed sentiment was experienced in the bills market as traders witnessed some purchase order on medium maturities. We expect market to be relatively quiet on Thursday in anticipation of OMO auction by the CBN.

Bond Market
Mixed sentiments however reigned in the bond market as investors sold off on the short and medium maturities, just as Yields moved north to close at an average of 13% levels.
The FGN Bond auction result showed low participation, a situation that was blamed on behaviour at the secondary Markets.

Interbank transfer
The Interbank rate remained stable at its previous rate of N305.90, offshore demand for US$ still persistent in the market.

By IDIALU ODEGUA JUDITH
judyodegua@yahoo.com