IN spite of the increased aggressive liquidity mop up by  the Central Bank of Nigeria, CBN, cost of funds is expected to fall further this week in response to inflow of N1.36 trillion into the interbank money market. Last week, cost of funds fell marginally in defiance of the liquidity mop up efforts of the CBN.

COST of funds is expected to fall this week in the interbank money market in response to inflow of N1.05 trillion from maturing treasury bills (TBs).

THE interbank money market will, this week, receive liquidity boost of over N1 trillion fuelling expectations of lower cost of funds and higher bond prices.

VALUE of Point of Sale (PoS) transactions grew by 57 percent  quarter-on-quarter, QoQ, to N1.6 trillion in the third quarter of 2018, Q3’18, from N1.02 trillion in Q2’18, while    Nigerians opened 4.4 million bank accounts during same period. The new bank accounts opened during the quarter comprise 3.4 million savings accounts and 800,000 current accounts.

COST of funds in the interbank money market is expected to fall this week in contrast to the 150 basis points (bpts) increase recorded last week, occasioned by liquid mop up by the Central Bank of Nigeria (CBN).