Nigeria benchmark bond yield drop 40bps as funds buy debt

LAGOS, Feb 28 (Reuters) – Yields on Nigeria’s most liquid 10-year bond fell 40 basis point to 13.9 percent on Thursday as uncertainty eases for foreign investors following the conclusion of national elections, traders said.

Yields on the benchmark 2028 paper, which is most traded, have been falling with investors locking in attractive rates. The bond dropped to 14.3 percent in the previous day’s trade, its lowest in six months, from 14.5 percent the day before and 14.75 percent the day before Saturday’s election. (Reporting by Chijioke Ohuocha Editing by Peter Graff)

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