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Rising Inflation Triggers Yields On Bonds, Treasury Bills

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13 years ago

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The announcement of a surge in the inflation rate by the National Bureau of Statistic (NBS) triggered the yields on bonds and treasury bills last week.

Bonds and bills yields moved upwards between 20 and 100 basis points as April inflation figure rose to 12.9 per cent year-on-year from 12.1 per cent at which it stood in March, market analyst have said.

The Debt Management Office (DMO) at the middle of the review week issued a five-year bond that is to mature in April 2017 at N35 billion and a 10-year bond maturing in January 2022 at N35 billion.

The 2017 bond recorded a yield of 15.24 per cent as against the 15.1 per cent rate at the last auction in April even as the 2022 bond has a yield of 15.45 percent compared with 15.47 per cent in the previous auction. Both had subscription levels of 79.43 per cent and 96.86 per cent respectively.

At the Over-the-Counter Bond market a total of 131.543 million units of FGN bonds worth N121.239 billion were sold in 935 transactions down from the 144.020 million units valued at N132.605 billion recorded in 802 deals the previous week according to the Nigerian Stock Exchange NSE weekly report.

In the Equities sector of the NSE the total turnover for the week under review stood at 1.848 billion units of shares worth N13.863 billion in 20, 435 with the banking subsector accounting for 1.026 billion units of shares valued at N8.814 billion in 10,910 trades.

Trading in the shares of three banks accounted for 458.197 million units of shares representing 56 per cent, 60.77 per cent and 33.76 percent of the volume recorded by the sector, subsector and overall equities market turnover for the week in that order.

The bears drove the market as the all share (ASI) fell by 1.07 per cent to finish at 22,381.11 basis points from 22,622.44 at which it opened the week while the market capitalisation of listed equities dipped by N77 billion to close at N7.137 trillion compared with N7.214 trillion at which it stood the previous week.

The dark cloud spread across the market during the week under review making all the NSE sectoral indices tilting southwards as the NSE 30 index, NSE Consumer Goods Index, NSE Banking Index, NSE Insurance Index and the NSE Oil/Gas depreciating by 1.07 per cent, 1.46 per cent, 1.61 per cent, 2.87 per cent, 1.49 per cent and -0.79 per cent respectively.

 

Vivian-Peace Nwinaene

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NPA Assures On Staff Welfare 

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1 week ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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1 week ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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