Decline in TB rates to persist as foreign investors trigger 575% oversubscription vanguardngr.com vanguardnews
Last week the apex bank sold N89 billion worth of TBs in the primary market at lower stop rates. Stop rate for the 91-Days bills dropped by 15 basis points to 10.75 percent from 10.9 percent in the previous auction held on February 27. The stop rate on the 182-Days bills also dropped by five bpts to 12.5 percent from 13 percent in the previous auction, while stop rate for the 364-Days bills dropped by 152 bpts to 12.85 percent, the lowest since August last year, from 14.
This massive inflow triggered 532 percent oversubscription in the primary market TBs auction held by the CBN on February 27. The CBN offered and sold N115 billion worth of TBs while total subscription stood at N727.35 billion. They projected that the huge demand for TBs will persist this week when the CBN offers maturing TBs worth 48.6 billion, as well as further moderation in stop rates.
In response, cost of funds rose marginally at the end of the week with average short term rates rising by 1.8 basis points . According to the CBN the external reserves recorded a weekly increase of $381 million last week to $42.987 billion from $42.606 billion on Thursday March 7.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tuberculosis (BCG) vaccine not enough protection against TB infection - Experts - Premium Times NigeriaNigeria ranks at one of the highest prevalent TB countries that are still discussing detecting and treatment of the disease.
Read more »
About 18 Nigerians die of tuberculosis every hour - ExpertAt least 18 Nigerians die from Tuberculosis (TB) every hour, a TB expert, Lovett Lawson, has said.
Read more »
Rising ‘drug resistant TB cases’ threaten Nigeria’s control efforts – Daily TrustThe increasing pool of tuberculosis resistant drug in the country is a major threat to the country’s efforts in controlling the disease. National coordinator of the National Tuberculosis and Leprosy Control Programme, Federal ministry of Health, Dr Adebola Lawanson, disclosed this yesterday during the Pre-World TB day media conference organised by USAID, KNCV and other …
Read more »
HINDSIGHT: Nigerian Lady Maudlyn Ekwueme Predicted Ethiopian Airlines Plane Crash | Sahara ReportersFive days ago I saw her post about her vision about the Ethiopian airline, youth corps members and Kaduna. I said to myself this girl has started again, she wants to be forming TB Joshua now because few of her visions came to pass. I read few comments where people asked her to take her vision seriously, as they usually came to pass. I was like 'abeg swerve, see how worldly she looks and she dey form prophetess'... I remember saying that.
Read more »
There’s been improvement in foreign investors participation - APT Securities - Vanguard News NigeriaMallam Garba Kurfi is the Managing Director and Chief Executive Officer of APT Securities. In this interview, he said that foreign investors who were selling off their stake from the equities market prior to the presidential election on February 23, due to election jitters have started coming back to the market. He also called for reconstitution of the Board of the Securities and Exchange Commission. Excerpts:
Read more »
Why building collapse persists – NSE - Vanguard News NigeriaAdedamola Falade-Fatila, the Chairman of the Ibadan branch of the Nigerian Society of Engineers (NSE) has hinged the rising cases of building collapse on quackery and compromise in standards.
Read more »
Breaking: Nigeria’s inflation rate hits 11.31% in February – NBS - Vanguard News NigeriaThe National Bureau of Statistics (NBS), says the Consumer Price Index (CPI) which measured inflation decreased to 11.31 per cent (year-on-year) in February from 11.37 per cent recorded in January.
Read more »
Crash of Boeing 737 Max triggers safety concerns | The Guardian Nigeria News - Nigeria and World NewsGlobal concerns are mounting over the safety of the state-of-the-art Boeing 737Max aircraft type that crashed and killed all 157 persons in Ethiopia on Sunday. ICYMI Boeing PlanCrash Aircraft
Read more »
FG to woo investors to oil, gas sector at CERAWeek - Vanguard News NigeriaThe Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, will on Wednesday address foreign investors at the CERAWeek, an international energy conference taking place in Houston, United States.
Read more »