The FGN Bond market remained relatively flat, except for slight demand on some short tenors following coupon payments on the FGN 2024 Sukkuk and FGN 2025 Bonds. Yields were however slightly higher by c.2bps on the day.
Equities market closed today on a negative note, as NSEASI depreciated by 0.31% to close at 31,042.32basis points as against 0.82% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -1.24%.
Nigeria’s Equities Market closed the month of February 2019 in green as NSEASI inched up by 3.81% as against -2.78% loss recorded in the month of January 2019 while the NASD USI closed in red with -0.95% loss recorded at the end of the month under review as against 0.21% gain in January 2019.
In recent years, there seems to be a sense of urgency for banks to go digital and expand into new communication channels. In ten years time, physical brick and mortar banking might not be the preference of the majority of customers.