Money Markets

System Liquidity eased further today, opening with a balance of ca
₦24.15 billion today, lower than previous day’s opening of ca ₦53.53
billion. As a result, the Open Buy Back (OBB) and Overnight (ON)
rates trended higher to settle at 11.25% and 11.75% from 10.00% and 10.20% respectively, yesterday.

Treasury Bills

Subdued trading activities were witnessed in the NTB secondary
market today, however improved offers were seen on the 26 May
2022 and 30 June 2022 maturities at 8.70% levels. Overall, average
yield gained ca 2bps day-on-day. Conversely, demand was seen on
selected maturities at the long-end of the OMO secondary market.
Thus, average yield lost ca 4bps, day-on-day.

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