Investors Anticipate N138.6b Maturing Treasury Bills This Week

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By Dipo Olowookere

This week, investors at the treasury bills market will expect the maturing of T-bills worth N138.6 billion.

According to analysts at Cowry Asset, this, in addition to recent FAAC inflows, is expected to result in a boost in the financial system liquidity with resultant stability in interbank lending rates.

Last week, interbank lending rates moderated on the back of boost in financial system liquidity.

Specifically, treasury bills worth N32.23 billion matured via Open Market Operations while FAAC disbursements worth N532.8 billion were made.

Hence, NIBOR for overnight funds, 1 month, 3 months and 6 months tenor buckets fell w-o-w to 7.00 percent (from 31.29 percent), 17.68 percent (from 19.17 percent), 18.58 percent (from 20.18 percent) and 19.94 percent (from 22.46 percent) respectively.

Elsewhere, NITTY also fell for all maturities tracked following renewed sell pressure: yields on the 1 month, 3 months, 6 months and 12 months maturities declined to 14.86 percent (from 16.75 percent), 15.37 percent (from 15.98 percent), 16.05 percent (from 18.98 percent) and 15.94 percent (from 17.79 percent) respectively.

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