- The Central Bank of Nigeria has boosted liquidity in the market with the repayment of N806bn ($4bn) worth of matured bonds and Treasury bills, financial market dealers have said.
- The development made the overnight lending rates to halve to six per cent on Friday from 12.25 per cent the previous week.
- Large matured bonds and T-bills were retired by the regulator last week
- However, a technical glitch that hit the CBN’s trading platform hindered major fund transfers and placement in the market.
- Traders said the trading hiccup, which started on Wednesday, might spillover to this week and could delay more transactions.
- The Head, Investment Research, Afrinvest West Africa Limited, Mr. Ayodeji Ebo, said the repayment of matured bonds and bills would continue to impact the market in coming days.
- Meanwhile, many investors are keen to re-invest in the market after the repayment of matured bonds and T-bills by the CBN, according to traders.
