The Central Bank of Nigeria (CBN) collected N277.47 billion through the Treasury Bills market in January 2023, according to data analysis. The bank conducted two TBills auctions, raising N55.39 billion in the first and N220.53 billion in the second.
At the CBN’s first TBills auction on January 11, 2023, the bank offered bills with a total value of N56.93 billion, including N1.55 billion for the 91-day, N1.49 billion for the 182-day, and N53.90 billion for the 364-day. During the auction, demand was high, particularly for the 364-day TBills, which received a total subscription of N310.44 billion. The 182-day TBills were subscribed to the tune of N56.2 billion, and the 91-day TBills received N22.44 billion in subscriptions. With an inflation rate of 21.7% YoY, investors preferred the 364-day Treasury bill with a 7.3% yield. The CBN allotted the full amount offered at stop rates of 2.00% (previously 2.75%), 4.33% (previously 7.15%), and 7.30% (previously 8.49%) for the respective tenors.
At the January 25, 2023 TBills auction, the Central Bank of Nigeria (CBN) made available instruments totaling N220.53 billion, including N1.74 billion for the 91-day, N1.26 billion for the 182-day, and N217.53 billion for the 364-day TBills. This second auction was powered by the high demand for bills across the market, which was further boosted by the ample liquidity present in the financial system.
Source: ThisDay Live