Nigeria’s Treasury Bills Market Closes Bearish

June 27, 2017
Nigeria’s Treasury Bills Market Closes Bearish

Nigeria’s Treasury Bills Market Closes Bearish

By Dipo Olowookere

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.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

Leave a Reply

Madagascar Joins Afreximbank
Previous Story

Madagascar Joins Afreximbank

Tummy-Tummy Noodles Extends Humblesmith's Deal
Next Story

Tummy-Tummy Noodles Extends Humblesmith’s Deal

Latest from Economy

Don't Miss