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.
