Investors Anticipate N153b Maturing Treasury Bills

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By Modupe Gbadeyanka

Traders in the treasury bills market in Nigeria are anticipating the instrument worth N453.30 billion maturing this week.

The bills will mature via both the primary and secondary markets and are expected to bring about moderation in the interbank lending rates amid expected ease in financial system liquidity.

According to analysts at Cowry Asset, last week, Central Bank of Nigeria (CBN) auctioned treasury bills worth N307.71 billion via the secondary market with the outflows partly offset by inflows worth N152.93 billion in matured treasury bills.

Consequently, NIBOR for 1 month, 3 months and 6 months tenor buckets rose w-o-w to 16.05 percent from 15.35 percent, 17.07 percent from 16.29 percent and 18.57 percent from 18.35 percent respectively.

However, NIBOR for overnight tenor bucket fell to 8.69 percent from 10.25 percent.

Elsewhere, NITYY moved in mixed directions across maturities tracked; yields on the 3 months and 6 months maturities moderated to 14.54 percent from 14.72 percent and 15.18 percent from 15.25 percent respectively.

However, yields on the 1 month and 12 months maturities rose to 14.90 percent from 13.84 percent and 15.11 percent from 15.04 percent respectively.

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