The interbank offered rate rose strongly amidst tight liquidity in the financial system, forcing some cash-rich Nigerian banks were seeking higher rates on the free fund. The financial market’s liquidity profile has been under pressure following interest rate hikes while investors switch into bullish mode on government instruments. Unfortunately, the Central Bank of Nigeria tightened […]
The Securities and Exchange Commission (SEC) Capital Market Committee (CMC) has sustained effort at building a formidable market. However, the commission’s effort continues to encounter resistance thereby limiting accomplishments. The commission, through the CMC, has however laid out many good initiatives, such as review of the market laws, e-dividend registration, stoppage of cheque, e-dividend payment, […]
.Appreciates by 0.062% at I&E FX window The naira, on Monday fell further to close at 368 per US dollar, indicating a drop of total three points from a depreciated rate of N365 traded last Monday at the parallel market. The Nigerian currency, however, recorded appreciable points of N2.28 at the Investors and Exporters window, […]
….As yields on short to midterm bonds advance As the Central Bank of Nigeria (CBN) advances towards implementing its new forex policy to ease volatility in forex market, auction of $200 million by the apex bank regulator Thursday triggered remarkable rise on the interbank lending rate. The auction by the CBN which further reduced system […]