CBN Keeps Rates on Nigerian Treasury Bills Unchanged
The Central Bank of Nigeria (CBN) kept rates on Nigerian Treasury bills unchanged despite disinflation and widening real return on investment.
The Apex Bank conducted a primary market auction (PMA) on Wednesday where N700 billion worth of Nigerian Treasury bills were offered to investors for subscriptions.
Supported by a significant liquidity level in the financial system and a rising appetite for the naira asset, total subscription printed at N1.292 trillion for Treasury bills with 91 days to maturity, 182 days and 364 days.
Investors maintained strong preference for long duration, with heavy positioning in treasury bills with 364-day expiration at the auction.
Details from the primary market auction results showed that the one-year Treasury bill attracted significant attention, with subscriptions reaching N1.230 trillion against a N450 billion offer size.
The auction recorded a total subscription for the 91-day bill amounting to N34.55 billion, which was significantly below N100 billion offer.
Investors’ appetite for 182-day bills was substantially lower than for others. Total subscription for 182-day bills came in at N26.71 billion, compared with N150 billion in offers for sales.
The CBN allotted Nigerian Treasury bills worth N1.029 trillion across the standard tenors at the auction and maintained old spot rates.
The spot rate for 91-day bills was kept at 15.30%, 182-day was priced at 15.50%, and one-year bills attracted 16.04%. # CBN Keeps Rates on Nigerian Treasury Bills Unchanged Dangote Cement Plunges as Investors Trim Shareholding
