FINANCIAL MARKETS TODAY – 31 August 2021

System liquidity opened with a balance of ca ₦237.92 billion, as OMO maturities of ₦57.00 billion impacted the system. Nonetheless, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 6.00% and 6.50% from 6.50% and 7.17% respectively, the previous day.

FINANCIAL MARKETS TODAY – 30 August 2021

Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 6.50% and 7.17% from 8.33% and 8.50% respectively on Friday, suggesting higher liquidity levels in the system today. The Central Bank of Nigeria (CBN) today, rolled over maturing special bills of ca ₦4.5 trillion for ca 35, 63 and 91 days respectively, with the longest tenor offered around 6.00% levels.

Nigeria’s GDP for Q2 2021 expanded by +5.01% year-on-year

Data released by the National Bureau of Statistics (NBS) show that the Nigerian economy expanded for the third consecutive quarter, growing at its fastest pace since Q4 2014. The Nation’s Gross Domestic Product (GDP) grew by 5.01% year-on-year in Q2 2021, lower than Bloomberg’s forecast of 5.6%. This expansion is ca +4.50% better than +0.51% growth recorded in Q1 2021, and +11.11% higher than the -6.10% contraction recorded in Q2 2020.

FINANCIAL MARKETS TODAY – 19 August 2021

ystem liquidity improved slightly today, opening with a balance of ca ₦8.33 billion, higher than previous day’s opening of ca -₦7.60 billion. Nonetheless, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 17.67% and 18.33% from 17.50% and 17.75% respectively, the previous day.