CBN Allots ₦3.46trn in Money-Market Securities
Investors submitted ₦5.57 trillion in bids for Nigerian money-market securities during the week of November 3 and 4, significantly exceeding the ₦2.30 trillion offered by the Central Bank of Nigeria (CBN). The CBN allotted approximately ₦3.46 trillion, which included ₦2.95 trillion in Open Market Operations (OMO) bills and ₦509.41 billion in Treasury bills.
The demand for Treasury bills was notably concentrated on the one-year instrument, which attracted ₦1.994 trillion, accounting for about 97.5% of total subscriptions. Despite the high demand, the government maintained stop rates of 15.40%, 15.79%, and 15.80% across three maturities.
Some bids on the one-year instrument reached 18.18%, but the government did not accept these higher offers. The November 4 auction raised significantly more than the ₦71.16 billion from the previous auction on October 28.
In the secondary market, average Treasury-bill yields increased from 17.28% to 17.70% within the same period.
Plus234Feed summary based on reporting from The Will. Read the original report below.
Read full article
Continue on The Will
Get the week in one email
Top stories, NPFL results, the naira, every Friday morning. Free, one email a week.
Related Stories
Shettima Calls for Investment in Africa's Creative Sector
CBN Absorbs ₦3.46 Trillion via Auctions Amid Strong Demand
Nestle Nigeria and Guinness Report Major Profit Gains
CBN mandates N15 billion capital for stablecoin issuers
Afreximbank Seeks $540M for Creative Industry in Lagos
Nigeria's Revenue Reaches ₦33 Trillion Amid Digital Tax Boost
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
