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COWRY ASSETS MANAGEMENT LIMITED
Nigeria’s Manufacturers’ confidence has risen by 0.7% to 53.6 points in the second quarter of the year compared to 53.9 points in the first quarter.
Driven by fears of naira being weakened at the fallout in last week's plunge in oil price, foreign portfolios investors ramped up their exit from the fixed income market.
A further decline in the interbank lending rates is expected as N405 billion treasury bills matured to boost liquidity.