Turnover in the OTC market for the month of June 2015 was N9.67trn, a decline of 17 per cent or N1.95trn compared with the previous month’s and a 60 per cent or N3.62trillion increase compared to June 2014 Activities in the T.bills and FX segments of the OTC markets jointly§ contributed 64% to the total turnover, down from 67 per cent recorded in the previous month Repurchase Agreements/Buy-Backs recorded an increase over the review period whilst Forex , FX, Treasury , T. bills, FGN bonds and Unsecured Placements/Takings declined
Meanwhile, total turnover in the fixed income market was N4.33trillion, a decline of 23 per cent or N1.32billion compared with May. Activities in the Treasury, T.bills market accounted for 88 per cent of total fixed income turnover; up from 85 per cent recorded in the previous month. On a year-on-year basis, turnover of T. bills and FGN bonds increased 105 per cent and 11 per cent respectively.
Trading intensity1 of T.bills and FGN bonds for the month of June settled at 0.60 and 0.12 respectively against 0.75 and 0.18 recorded in May. Yields on fixed income securities in the month indicated mixed sentiments as 1M2 , 6M, 12M and 15Y3 benchmark securities declined whilst other benchmark securities inched upwards.
On aggregate, the yield curve was up 23 bases points, bps in the review period. Outstanding FGN bonds stood at N4.84trillion, 2 per cent or N91.85billon above the value as at May, with market capitalisation declining N1.54billion to close at 91 per cent of face value, or N4.41trillion. T.bills outstanding on the other hand declined 2 per cent, or N124.45billion, to stock at N6.28trillon as at the end of June.
Net debt for issuance for the month settled at N23.20billion, indicating a decrease of 53 per cent or N25.74billon compared with the previous month . Maturity profile of sovereign domestic debt indicates 57 per cent of total debt maturing within a year and 70 per cent in less than three (3) years. that entrepreneurs make to the global economy and to their community. On why EY supports Entrepreneurs, she stated that entrepreneurs are critical for the health of the global economy.
According to her “They create jobs, generate wealth and encourage creativity and competition. They also drive innovations that address some of the world’s most pressing problems. And they inspire the next generation to innovate. By helping great entrepreneurs to scale, and shining a spotlight on their achievements, we are helping to fulfil our purpose, to build a better working world.
Entrepreneurs drive innovation and economic growth, and create jobs. And we focus on the future workforce, from employees to young entrepreneurs, because we know that the next generation is critical to global progress. Akinde, further stated that the awards aim to recognise the exceptional innovations and achievements of West African entrepreneurs and their efforts in creating jobs and contributing to the growth of the country’s economy.