ga('send', 'pageview');

Nigeria’s Treasury Bills Market Closes Bearish

By Dipo Olowookere

The Treasury Bills market in Nigeria closed last week bearish as average yield on benchmark bills rose 11bps W-o-W to settle at 18.2 percent.

According to Afrinvest Weekly Update, it was observed that during the week, the Central Bank of Nigeria (CBN) offered N133.3 billion in the T-bills auction held.

ALSO READ  Traders Anticipate N476b Maturing Treasury Bills Thursday

Expectedly, investors favoured longer tenored bills with the 364-day instrument receiving the most subscription.

The apex bank allotted the exact offer/subscribed amount for the 91-day (N28.1 billion), while over allotting that of the 364-day tenor with N61.3 billion as against N50.0 billion on offer.

However, the 182-day instrument was undersubscribed at N43.8 billion relative to N55.1 billion offered amount.

ALSO READ  CBN Auctions N20b 191-Day Bills as Overnight Rate Falls to 28.67%

The 91, 182 and 364-day papers were allotted at stop rates of 13.5 percent, 17.5 percent and 18.6 percent respectively.

Related Articles

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: