Nigerian Treasury Bills dip to 3.39% per annum

Adebayo Obajemu

According to the latest data from the Treasury bill auctions concluded , Nigeria’s 364-day tenor plunged to 3.39%. On the other hand, Stop rates printed lower for the 91-day tenor at 1.789% and 182-day tenor, which went for 1.91%.

At the Treasury bill auction, the Debt Management Office sold N10 billion on the 91-day paper, N20 billion on the 182-day, and N58.857 billion on the 364-day bills.

Ambrose Omokordion chief research officer at Investa speaking on the latest treasury bill auction said:

“At the NTB auction that was conducted yesterday, we saw an important demand, especially on the new 1-Yr bill. This is still because of the exclusion of local corporates and retail investors from investing in Omo bills. As a result, the stop rates across board closed lower than the preceding auction at 1.789%, 1.91%, and 3.39% on the short, medium, and long-tenures papers, respectively. I expect these rates to go down further in the secondary market as market players try and fill their unmet demand.”