23 October 2017
Abuja
Reporter: Jenna Lomax

Nigerian repo activity suffers in September


Nigeria’s FMDQ OTC Securities Exchange’s (FMDQ’s) repo activity was valued at ₦1.68 trillion ($4.66 billion) in September, 41.7 percent less than the value recorded in August.

Repo was also down 45 percent year on year for September, representing a ₦1.37 trillion ($3.8 billion) drop off from 2016. Turnover in Nigeria’s fixed income market in September settled at ₦5.39 trillion ($14.9 billion), a 7.56 percent decrease month on month.

Transactions in treasury bills market accounted for 80.9 percent of the overall fixed income market, down from 90.7 percent the previous month.

The Federal Government of Nigeria (FGN) bonds outstanding value increased by 3.4 percent to close at ₦7.32 trillion ($20.3 billion) for September, up from ₦0.24 trillion ($666 million) in August.

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