Nigeria’s bond auction in February reached ₦1.63 trillion in subscriptions, a notable increase from January’s ₦670.94 billion. This surge in demand suggests growing investor confidence, while liquidity concerns from settlement may stabilize the market. Insights on this trend were provided by Ademola Osuntoki from Access Bank during a CNBC Africa interview.
In February, Nigeria’s bond auction demonstrated a remarkable increase in investor interest, with total subscriptions amounting to ₦1.63 trillion. This figure marks a significant rise from the ₦670.94 billion observed in January. The surge indicates a robust appetite for government securities, suggesting confidence in Nigeria’s fiscal policies and market conditions. Access Bank traders anticipate stable market behavior, looking ahead to the potential decrease in liquidity resulting from the bond auction settlement. Ademola Osuntoki, the Treasury Team Lead at Access Bank, shared insights on market dynamics during a discussion with CNBC Africa.
The February bond auction in Nigeria showcased an impressive growth in subscriptions, reflecting strong investor confidence. Notably, predictions of market calmness due to liquidity impacts post-auction highlight the nuances of financial market reactions. This trend underscores the evolving landscape of Nigeria’s bond market as it adapts to changing economic indicators.
Original Source: www.cnbcafrica.com
