CBN Sells N500 Treasury Bills Via OMO in Five Days

By Modupe Gbadeyanka

Last week, the Central Bank of Nigeria (CBN) realised N500 billion from the sale of treasury bills via the secondary market.

This amount realized by the apex bank from the OMO auction was enough to offset N476.21 billion T-bills which matured last Thursday.

According to analysts at Cowry Asset, NIBOR fell for all tenor buckets amid sustained liquidity ease in the financial system – in line with their expectation.

Specifically, NIBOR for overnight, 1 month, 3 months and 6 months tenor buckets fell w-o-w to 3 percent from 4.56 percent, 13.43 percent from 14.64 percent, 14.17 percent from 15.28 percent and 15.35 percent from 17.06% percent respectively.

Meanwhile, while Standing Deposit Facility (SDF) which fell w-o-w by 3.93 percent to N593.89 billion, outweighed Standing Lending Facility (SLF) which also fell w-o-w by 9.51 percent to N211.37 billion; indicative of excess financial system liquidity.

Elsewhere, NITTY fell for all maturities tracked on sustained bullish activity: yields on the 1 month, 3 months, 6 months and 12 months maturities fell to 12.52 percent from 14.09 percent, 13.02 percent from 13.61 percent, 13.65 percent from 14.31 percent and 14.72 percent from 14.90 percent respectively.