From Business Day

Cautious trading is expected in Nigeria’s bond market this week after the central bank governor’s suspension.

In Kenya, treasury bill auctions are expected to be poorly subscribed due to tight liquidity.

Nigeria’s debt market is expected to take its direction from the foreign exchange market in the near term as the central bank moves to restore confidence in the local currency after the suspension of the governor on Thursday.

Nigeria’s graft-fighting central bank governor, Lamido Sanusi, said on Friday he would go to court to challenge his suspension by President Goodluck Jonathan. Mr Sanusi said he did not want his job back, but he wanted to question the legality of the president’s move.

Mr Jonathan removed the increasingly outspoken critic of his government’s record on tackling rampant corruption in Africa’s top oil producer.

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