CBN Opens N250bn Worth of Treasury Bills for Subscription
The Central Bank of Nigeria (CBN) is scheduled to float its first Treasury Bills valued at N250 billion for investor participation in the primary market auction (PMA) of the month.
The main auction, the first in the second half of 2025, is floated on Wednesday as N130 billion worth of treasury bills expire this week.
The authority is offering N250 billion across standard maturities. The Nigerian Treasury bills maturing in 91 days, worth N100 billion, will be offered for subscription midweek at the main auction. The CBN will also open N20 billion worth of bills with 182-day maturity for subscription.
For Nigerian Treasury bills with 364 days to maturity, the offer size is set at N130 billion, and analysts expect spot rates to range between 16.60% and 16.80%. A slew of analysts anticipate strong demand for long duration to persist, and the possibility of rates cut is not far-fetched.
Given the rising appetite for fixed income market assets, analysts said the main auction is expected to reset the bill curve and set the tone for the second half of the year, reinforcing the ongoing yield-curve softening. #CBN Opens N250bn Worth of Treasury Bills for Subscription
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