Thursday, Dec 13th 2018 12:05 AM
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.

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Your email address will not be published.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.