CBN to Offer N332bn Treasury Bills for Subscription on Friday
The Central Bank of Nigeria (CBN) will offer Treasury bills worth more than N332 billion to investors in the primary market on Friday. The Debt Management Office, DMO, on behalf of the CBN is expected to offer N332.52 billion across standard maturities to market participants—banks and other asset managers.
The auction has been predicted to be well received despite liquidity constraints in the money market, which forced banks to borrow from standing lending facily. Ahead of the auction, trading activities in the secondary market softened on Tuesday with a mild bullish bias.
Analysts noted that there was demand for the 11-Sep and 11-Dec bills. Due to buying interest, the average yield declined at the short (-2 bps), mid (-27 bps), and long (-2 bps) segments. Analysts hint in a report that investors stake bets on 79-day to maturity (-2bps), 149-day to maturity (-151bps), and 331-day to maturity (-2bps) bills, respectively. O
Overall, the average benchmark yield declined by 2 bps to close at 25.56%. Similarly, the average yield declined by 5 bps to 27.2% in the OMO segment. The debt office is expected to split its N332.53 billion offered across the 91, 182, and 364-day papers. # CBN to Offer N332bn Treasury Bills for Subscription on Friday Cryptocurrencies Market Cap Rises as Bitcoin Pops Higher
