N90b in Treasury Bills Mature This Week

July 15, 2017
N90b in Treasury Bills Mature This Week

N90b in Treasury Bills Mature This Week

By Cowry Asset

In the just concluded week, treasury bills worth N89.96 billion matured, resulting in liquidity boost.

The maturities included: 196-day bills worth N14.42 billion and 357-day bills worth N75.54 billion.

Consequently, NIBOR decreased across all of the maturities in line with our expectations; NIBOR for overnight funds, 1 month, 3 months and 6 months fell w-o-w to 10.75% (from 15.25%), 19.24% (from 20.36%), 21.61% (from 21.96%) and 23.48% (from 23.74%) respectively.

Elsewhere, NITTY increased across most of the maturities amid sell pressure – yields on 3 months, 6 months and 12 months rose to 19.55% (from 19.19%), 20.61% (from 20.38%) and 22.59% (from 22.30%) respectively.

This week, there will be maturing treasury bills worth N238.733 billion viz: 91-day bills worth N12.295 billion, 364-day bills worth N129 billion and 353-day bills worth N97.438 billion which will more than offset treasury bills auctions worth N204.96 billion, viz 91-day bills worth N36.786 billion, 182-day bills worth N39.175 billion and 364-day bills worth N129 billion. Hence, we expect financial system liquidity ease and resultant stability in interbank rates.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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