Nigeria’s inflation rate increased to 12.9 per cent y/y in April 2012 (fig. 1), 80 bps higher than 12.1 per cent recorded in the previous month. This was largely driven by non-food items captured by the “All items less farm produce” index. The higher y/y
we observed the influence of the treasury bills auction, which took place mid-week, on activities across the market. This resulted in relative sustained intra-day volatility and subsequent stability as traders adopted a cautious approach whilst OTC tradin
Last week, surplus liquidity within the system remained the key driver of market activities in view of the inflow of budgetary allocations from the preceding week. As a result, market concentration was at the short end of the curve. Meanwhile, over-the-co
The Nigerian Stock Exchange on Thursday May 3rd 2012 admitted 15.10% FGN APR 2017 bond on the Daily Official List, bringing the total Federal Governments bonds to twenty seven (27).
In our review of market for the previous week, we observed that secondary market activities for FGN bonds were driven by the monthly auction which took place midweek and the release of the March 2012 inflation figures. During the auction, three (3) bonds