June 20, 2024/FBNQuest Research The recent communique released by the Federation Account Allocation Committee (FAAC) shows that the federation’s revenue disbursements to the three tiers of government amounted to about N1.1trn (USD728m) in June 2024 (from May 2024 revenue). May’s gross distribution represents a marginal decrease of -5% M-o-M or […]
Updates
Coronation Fixed Income and Exchange Rate Update
June 19, 2024/Coronation Research Summary Opening market liquidity was reported at N132.6bn on Friday (14, June ‘24). Call, overnight, and repo rates closed within the range of 6% – 26%, as rates in the money market moderated. Last week, the average NTB yield declined by -10bps to close at 21.9% […]
Inflation Report – May 2024
The NBS has released its May inflation report to show Headline rate: 34% y/y (33.7% in April) Core rate: 27% y/y (26.8%); and Food rate: 40.7% y/y (40.5%). June 19, 2024/Coronation Research May’s headline inflation increased by +26bps (when compared with the previous […]
