BAMIDELE FAMOOFO
Figures emerging from the Fixed Income and Currency market on Monday showed that turnover in the last month in 2022 recorded a year-on-year of 2.46 percent to N21.04 trillion.
Month-on Month, turnover in the short -term interest yielding market on the platform of the FMDQ Exchange in increased by 35.07 percent (5.46trn).
Foreign Exchange, CBN Bills and Money Market transactions dominated secondary market activity in December 2022, accounting for 84.81 percent of the total secondary market turnover.
The DMO sold T.bills valued at N185.38 billion (representing a 136.65 percent oversubscription of the amount offered – N135.38bn) across its auctions in December 2022, and a 64.59 percent (N338.17bn) MoM decrease on the value of T-bills sold across its auctions in November 2022 (N523.55bn).
Similarly, the DMO sold FGN Bonds worth N264.52billion in December 2022 via re-openings of two (2) 10Y and one (1) 20Y bonds (exceeding the total amount of FGN Bonds offered1 by N39.25bn), as well as representing a 1.72 percent (N4.64bn) MoM decrease from the amount sold in November 2022 (N269.15bn) for the same FGN Bond maturities. In the review month, the CBN sold OMO Bills worth N30.00billion, representing a 50.00 percent (N10.00bn) MoM increase on the value of OMO bills sold across its auctions in November 2022 (N20.00bn).
There were no corporate bonds listed on FMDQ Exchange in December 2022 compared to N199.31billion worth of listings across three (3) issuers in November 2022. As a result, the total outstanding value for corporate bonds decreased MoM by 0.44 percent (N6.17bn) to N1.4 trillion.
The total value of CPs quoted on FMDQ Exchange in December 2022 was N9.68billion, representing a MoM decrease of 86.66 percent (N62.86bn) from the value of CPs quoted in November 2022. Quoted CPs were issued by institutions from various sectors including Financial Services (3), Agriculture (2), Chemical Supply & Oil Field Services (2) and Education (1). In December 2022, CPs with a total value of N165.93billion matured and were redeemed resulting in a MoM decrease of CPs outstanding by 38.32 percent (N156.254bn) to N251.46billion.
