BUSINESS: CBN SELLS N598.3 BILLION TREASURY BILLS
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Three maturities totalling N598.33 billion have been allocated by the Central Bank of Nigeria (CBN) to Nigerian Treasury Bills.
Eighty per percent of all sales and subscriptions were made through the 365-day bill, which brought in N482.62 billion for the period.
With just N48.4 billion in subscriptions and even lower sales of N38.4 billion, the 81-day bill had the lowest demand and sales of any tenor.
So far this year, N7.248 trillion has been sold in treasury bills.
As liquidity enters the market, the Nigerian Treasury Bill auction on Wednesday saw an oversubscription at the apex bank.
A total of NGN550 billion was offered across the three maturities – N50 billion in 91-day bills, N100.00bn in 182-day bills, and N400 billion in 364-day bills.
Demand for the government securities was double the offer, though total subscriptions fell to N1.08 trillion from N1.53 trillion at the prior auction.
This led to yields remaining unchanged across the tenors except for a slight increase to 24.41 per cent from 24.36 per cent on the 365-day bill.
Yields have hovered around the same level over the last four auctions.
The 181-day and 90-day yields remained unchanged on Wednesday at 20.38 per cent and 18.85 per cent, respectively.
System liquidity was N1.21 trillion as of May 6, 2025, added to the maturing bills worth N287.98 billion together were more than triple the N550 billion on offer.
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