Obinna Chima
Indications have emerged that the Central Bank of Nigeria (CBN) could be considering wooing foreign portfolio investors (FPIs) back into the fixed income market with higher yields.
The move is also expected to improve the country’s forex liquidity. Standard Bank revealed this in its latest report obtained at the weekend.
According to the report, should the recent adjustments to over-the-counter (OTC) futures and open market operations (OMO) yields occur, “the CBN seems to be considering attracting FPIs again.”
Last week, the FMDQ OTC futures prices were adjusted higher by an average of N9.81 on the short-end and N14.16 on the long-end of the curve.