Nigeria’s treasury bills market closed positive on Wednesday, January 10, despite the fact that the Central Bank of Nigeria, CBN, failed to carry out its usual liquidity mop up through the sale of treasury bills through the Open Market Operations, OMO,the second trading day .
The average T-bills yields were mixed with yield on the 44DTM bill increasing by 93bps to settle at 12.96 percent, while the yield on the 142DTM bill fell by 98bps to close at 14.75 percent, Business Post reports.
Traders expect the apex bank to resume issuance of OMO bills today as a result of the N309 billion bills maturing today.
Meanwhile, the money market rates declined on Wednesday as a result of the absence of the OMO sales by the central bank.
At the close of transactions, the overnight rate went down to 14.57 percent from 17.21 percent in the previous session.
Also, the open buy back (OBB) rate declined to 13.86 percent from 16.33 percent recorded on Tuesday.