December 2023 Funds Factsheet
Asset Management
31 Dec 2023 · Factsheets
Overview
During December there was confusion in Nigeria’s fixed income markets. Rates had been pushed up during November, only to fall again in December. The rate achieved at auction for a 1-year T-bill fell by more than 4 percentage points compared with November. This raised a question over the direction of rates in 2024. We are unlikely to know the answer until the end of January. Overall, 2023 was a mediocre year for Naira fixed income investors.