Financial Flashpoint: OMO Auction and Tariff Hike
Prologue Last week, the Central Bank of Nigeria (CBN) conducted its first Open Market Operations (OMO) auction in the month, aiming to assert control over money supply in the system. Following a sale of a whopping ₦676.65 billion worth of securities, the CBN’s commitment to managing liquidity in the economy remains unchanging. In comparison to […]
Changing Market Conditions
Prologue Recently, the global oil market has been wrought with persistent price fluctuations. These fluctuations are attributed to various factors, one of the most significant being the ongoing conflict between Israel and Palestine. Further, incidents such as bombings of sea vessels have directly or indirectly impacted the oil supply. During the recent MPC meeting, the […]
Interconnected Realities: Bonds, State Debts & Global Economic Shifts
Prologue The Government’s latest bond auction stands as a beacon of investor confidence, with subscription levels surpassing expectations across all tenors and the convergence of market dynamics as bonds find takers through competitive and non-competitive bids. However, the unveiling of state debts cast a sobering shadow, with a speculated cumulative figure reaching a staggering ₦1.72 […]
Exploring Auctions, Euro bonds, & Policy Regulations
Prologue Nigeria’s financial outlook reflects a dynamic interplay of investor preferences, policy responses, and regulatory dilemmas. The recent Treasury Bill auctions showcase investor sentiments and the apparent plans for Eurobond’s signal aspirations for international financing. Meanwhile, the Central Bank is facing inflationary pressures in Egypt, prompting discussions about a possible interest rate hike to stabilise […]
Policy Dynamics & Market Sentiments
Prologue In the week under review, exciting developments were observed in the country’s financial sector following the ban of Binance, specifically, the recent Treasury Bills auction, which showcased significant investor interest and strategic policy measures. Concurrently, Egypt’s Central Bank implemented significant adjustments to its benchmark interest rates, reflecting broader regional trends similar to those implemented […]
Controlling Financial Pressures: The FG & CBN Gold Moves
Prologue This week in the financial markets has indeed been a rollercoaster, with several key events shaping the scope of the markets. The CBN deliberations and policies have been a focal point, as they signal a tightening monetary policy, thereby underscoring the importance of careful adjustments in response to evolving economic data, highlighting the delicate […]
Market Watch: The CBN, CBN Bonds, & Inflation
Prologue In this volume, we explore recent developments in the Nigerian financial market, focusing on the Central Bank of Nigeria’s (CBN) efforts to stabilise the naira through its first dollar sale since September 2023. Additionally, amidst a pullback in equities, we examine the cautious market sentiment preceding FGN bonds market activity and the optimistic rally […]
The Intersection of Finance, Geopolitics & Market Dynamics
Prologue This edition of our weekly review focuses on the intricate interplay between finance, geopolitics, and market dynamics. Over time, the Nigerian Treasury Bills (NTBs) auction has been a crucial economic event, reflecting market sentiment and investor confidence. Against the backdrop of escalating global tensions in the Middle East, we analyse the key market highlights […]
Market Buzz: Central Bank’s Actions, Auctions Implementations
Prologue As the first month came to an end, the Central Bank conducted the month’s last OMO auction, featuring various tenors. The FGN Bonds auction had its own twists, with all tenors maintaining the previous stop rates. Behind the scenes, the Central Bank raised concerns about banks’ foreign currency exposures and introduced prudential requirements. In […]
Economic Development and Financial Outlook
Prologue The Nigerian financial markets witnessed a dynamic week marked by key events in the money market, inflationary trends, and international economic engagements. It unfolded with economic vigor as it became a stage for pivotal events spanning the money market, inflationary trajectories, and global economic liaisons. The spotlight shone brightly on the Open Market Operations […]