The Central Bank of Nigeria (CBN) has conducted an auction of Nigerian Treasury Bills (NTBs) which saw a substantial amount of N1.64 trillion being sold, as shown in the auction result report.
The higher stop rates offered have attracted considerable investor interest, reflecting confidence in the nation’s economic instruments.
During this latest auction, three categories of NTBs were offered, with varying tenors of 91 days, 182 days, and 364 days. The auction date was on March 27, 2024, with the allotment date following a day after, on March 28, 2024.
The shortest tenor bills, the 91-Day NTBs, offered an amount of N17.606 billion, attracting a subscription of N76.812 billion, indicating a moderate demand level.
The 182-day NTBs showed higher demand, with an offered amount of N1.560 billion and a hefty subscription of N58.184 billion.
While The longest tenor, the 364-Day bills, had a remarkable turnout. With an offer of N142.162 billion, it garnered a staggering subscription of N2.483 trillion, indicating a significant surge in investor confidence. These bills will mature on March 27, 2025.
