CBN to Auction N89.5bn Treasury Bills This Week

Ohe Central Bank of Nigeria is set to conduct a primary market auction on Wednesday to roll over N89.5bn worth of Treasury bills maturing on Thursday, across the 91-day (N5bn), 182-day (N14bn) and 364-day (N70.5bn) tenors.The 91-day tenor had a last stop rate of 10.90 per cent and is expected to have a stop rate between 10.50 per cent and 10.99 per cent at the end of the week.The 182-day tenor, which had a last stop rate of 13.01 per cent, is expected to close at a rate between 12.95 per cent and 13.20 per cent.The 364-day tenor had a last stop rate of 14.37 per cent and an expected stop rate range of 13.50 per cent and 13.90 per cent.The bullish sentiment in the Treasury bills secondary market was reversed last week (after two weeks) as the apex bank increased its frequency of liquidity controls via Open Market Operation auctions, albeit offering only short-tenor and mid-tenor bills.

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