Maturing treasury bills worth N263.40 billion is expected to be boost financial system liquidity in Nigeria, this week.
Last week, bills worth N309 billion matured at the T-bills market, offsetting the outflow recorded when the when the Central Bank of Nigeria, CBN, auctioned T-Bills worth N292.62 billion via Open Market Operations, OMO.
According to analysts at Cowry Asset, this consequently made the Nigerian Inter-bank Offered Rate (NIBOR) for all maturities tracked to depreciate; overnight funds, 1 month, 3 months and 6 months tenor buckets fell w-o-w to 9.21 percent from 19.07 percent, 14.49 percent from 16.51 percent, 15.87 percent from 17.26 percent, and 17.38 percent from 18.51 percent respectively.
Elsewhere, NITTY moved in mixed directions across all maturities tracked: yields on the 3 months and 12 months maturities increased to 14.25 percent from 13.43 percent and 15.35 percent from 15.28 percent respectively.
However, yields on the 1 month and 6 months maturities decreased to 12.99 percent from 13.47 percent and 14.84 percent from 14.92 percent respectively, Business Post reports.