October 2023 Funds Factsheet
Asset Management
11 Oct 2023 · Factsheets
Overview
October witnessed a change in direction for Nigerian Treasury bill and bond market rates, moving sharply upwards. Since the surge in rates occurred at official auctions it is clear that this was the intention of the monetary authorities. Although Treasury bill and bond yields remain well below inflation (at 26.72% y/y) they are improving.
The authorities also announced a possible inflow of US$10.00bn that could redress longstanding issues in the foreign exchange markets. Towards the end of this month this had positive effects on the foreign exchange and equity markets.