Treasury Bills Worth N65b Mature This Week

July 29, 2017
Treasury Bills Worth N65b Mature This Week

By Cowry Asset

In the just concluded week, treasury bills worth N65.032 billion matured viz: 364-day bills. However, NIBOR decreased across most of the maturities amid sustained liquidity ease; NIBOR for overnight funds, 1 month and 6 months fell w-o-w to 5.92 percent (from 11.75 percent), 16.99 percent (from 17.85 percent) and 22.36 percent (from 22.67 percent) respectively.

However, the 3 month tenor rose to 20.69 percent (from 19.49 percent).

Elsewhere, NITTY increased across most of the maturities amid renewed sell pressure – yields on 3 months, 6 months and 12 months rose to 18.95 percent (from 14.55 percent), 19.82 percent (from 19.79 percent) and 22.46 percent (from 22.40 percent) respectively.

However, the 1 month maturity fell to 12.51 percent (from 14.88 percent).

This week, there will be maturing treasury bills worth N314.558 billion viz: 91-day bills worth N29.143billion, 182-day bills worth N80 billion, 364-day bills worth N120 billion, 143-day bills worth N2.79 billion and 181-day bills worth N82.62 billion which will more than offset treasury bills auctions worth N229.143 billion, viz 91-day bills worth N29.143 billion, 182-day bills worth N80 billion and 364-day bills worth N120 billion.

Hence, we expect further financial system liquidity ease and resultant stability in interbank rates.

Dipo Olowookere

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.

Mr Olowookere can be reached via [email protected]

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