Activities in the fixed income and currency markets in the year ended December 31, 2020 witnessed a decline due to reduced yield on investment on available instruments, dragging turnover down by about 7.6% year-on-year compared to the figure in 2019. BAMIDELE FAMOOFO reports.
The total value of investment in the fixed income and currency (FIC) markets recorded a year-on-year decrease of 7.57% to N215.08trillion in the financial year ended December 31, 2020 compared to N232.69trillion achieved in 2019.
The lull experienced in the market in the review period is due to low yields on money market financial instruments which diverted the attention of investors to seeking rent from the equities market in the year.
While the fixed income market experienced a lull in activities in the 2020 financial year, reverse was the case in the equities market where investors realized more than 50% returns on investment on the average.
