The Naira continues to struggle, declining by one naira on the black market over the weekend.

The West African landscape has had a busy start to the year, with a new administration in Ghana, political uncertainty in The Gambia and continued foreign exchange shortage in Nigeria

Nigeria's inflation continued its uptick for the eleventh consecutive month, with December Inflation figures reaching 18.55 per cent.

Nigeria plans to sell 117.2 billion naira worth of short-dated treasury bills at an auction this Wednesday.

Nigeria's central bank last week stepped up its efforts to mop up liquidity in the banking system by issuing over N100 billion OMO T-bills two weeks before the November monetary policy committee meeting.

The Central Bank of Nigeria held an OMO T-bills auction on Thursday, selling N19 billion and N98 billion on the 196-day and 364-day bills.

Persistent liquidity mop up by the Central Bank of Nigeria continues to dampen demand at the fixed income markets.