NITTY Rises for All Tenor Buckets on Financial Liquidity Strain…


In the just concluded week, there was no
auction in the primary market. NIBOR fell for
most of the tenor Burket being tracked.

Specifically, NIBOR for 1 month, 3 months
and 6 months maturities decreased to 9.33%
(from 10.53%), 11.05%(from 11.31%) and
11.10% (from 11.92%) respectively.

However, the Overnite tenor bucket rose by
1.42% to close at 14.00%.

Also, NITTY rose for all of the tenor buckets tracked as we saw NTB of about 25.94 billion matured in the week.

Specifically, 1 month 3 months, 6 months and 12 months tenor increased to 3.34%(from 3.11%), 3.80%(from 3.51%), 4.46%(from 3.95%) and 6.04%(from 4.93%).

In the new week, OMO worth N60 billion will mature via the secondary market.

Hence, hence, we expect interbank rates to move in mixed directions amid a marginal inflow of matured OMO.