Monday, Oct 22nd 2018 10:28 PM
Lagos
+29°C

Market Digest Nigeria

Business

Nigeria’s Treasury Bills Market Closes Bearish

The Treasury Bills market in Nigeria closed last week bearish as average yield on benchmark bills rose 11bps W-o-W to settle at 18.2 percent.

According to Afrinvest Weekly Update, it was observed that during the week, the Central Bank of Nigeria (CBN) offered N133.3 billion in the T-bills auction held. Expectedly, investors favoured longer tenored bills with the 364-day instrument receiving the most subscription.

The apex bank allotted the exact offer/subscribed amount for the 91-day (N28.1 billion), while over allotting that of the 364-day tenor with N61.3 billion as against N50.0 billion on offer. However, the 182-day instrument was undersubscribed at N43.8 billion relative to N55.1 billion offered amount. The 91, 182 and 364-day papers were allotted at stop rates of 13.5 percent, 17.5 percent and 18.6 percent respectively.

ALSO READ  AfDB Says Dangote May Become World’s Largest Rice Exporter By 2021
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top
SUBSCRIBE NOW!
Get the best of Market Digest Nigeria financial news
delivered to your inbox daily!
By clicking Give it a try, I hereby: Agree and Consent to the Terms of Use and the Privacy Policy
& I may receive free newsletters & promotions from this site and can choose to unsubscribe anytime.