Nigerian Inter-bank Offered Rate, NIBOR, increased across most of the maturities: NIBOR for 1month, 3 months and 6 months increased w-o-w to 19.88 percent (from 19.49 percent), 22.71 percent (from 21.24 percent) and 23.61 percent (from 23.42 percent) respectively.
The increase came following secondary market auctions worth N193.04 billion which more than offset maturities worth N14.65 billion, viz: 167-day and 168-day bills worth N7.976 billion and N6.674 billion respectively, which held last week.
However, NIBOR for overnight funds fell to 11.32 percent (from 13.07 percent).
Meanwhile, Federation Accounts Allocation Committee (FAAC) announced the sharing of N467.8 billion to the three tiers of government.
Elsewhere, NITTY rose for all the maturities– yields on the 1month, 3 months, 6 months and 12 months maturities rose to 18.28 percent from (17.77 percent), 20.30 percent (from 19.45 percent), 20.38 percent (from 19.79 percent) and 22.39 percent (from 22.13 percent) respectively.
This week, we expect maturities via primary market worth N88.14 billion viz: 91-day bills worth N26.14 billion and 182-day bills worth N62 billion; even as FAAC disbursements are expected to hit the financial system.
