By: Business/Markets Desk
The Central Bank of Nigeria (CBN) will auction ₦290bn in Treasury Bills on September 17, with strong liquidity expected to spur demand.
Breakdown of the Offer
According to the CBN, the sale will include ₦30bn in 91-day bills, ₦60bn in 182-day bills, and ₦200bn in 364-day bills. The amount is smaller than the ₦480bn offered at the last auction on September 3.
Investor Sentiment Rising
At the earlier auction, subscriptions surged to ₦1.01trn, more than double the offer. Yields adjusted slightly, with the 364-day stop rate climbing 25bps to 17.69%. Analysts say the trend of oversubscription will likely continue, supported by robust liquidity of ₦2.46trn and easing inflation.
Market Outlook
Observers expect stop rates to moderate across all maturities, with investors leaning toward longer tenors. Analysts add that consistent inflation declines — 20.12% in August vs 21.88% in July — could anchor demand.
The auction will test investor appetite for short-term government debt as markets weigh liquidity, inflation, and monetary policy signals.
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