November 8, 2018/CBN
Inter-bank Funds Market
The value of transactions at the funds market stood at N716.06 billion in the first half of 2018, a decline of N148.87 billion or 17.21 per cent, when compared with N864.93 billion in the corresponding period of 2017.
Further analysis of the transactions indicated that open-buy-back (OBB) amounted to N685.61 billion or 95.75 per cent, while the unsecured inter-bank call accounted for the balance of N30.45 billion or 4.25 per cent. In the corresponding period of 2017, the OBB accounted for N773.42 billion or 89.42 per cent, while the unsecured segment recorded N91.51 billion or 10.58 per cent (Table 2.6).
The strong patronage of the OBB was attributable to risk minimization by market participants.