Nigeria's Treasury bills auction attracted a total subscription of N3.22 trillion, with significant demand for long-tenured securities. Investors showed preference for the 364-day instrument, accounting for 98 percent of total bids, amid rising yields and tight monetary conditions. Stop rates for the 91-day and 182-day bills remained unchanged, while the 91-day and 182-day bills saw a decreased demand compared to their respective offers.
Nigeria’s Treasury bills, T-bills auction have attracted a total subscription of N3.22 trillion. This comes as the Debt Management Office, on behalf of the Central Bank of Nigeria, conducted the auction on February 5, while allotments were done on February 6. According to the result of the auction obtained on Saturday, the Federal Government offered N670 billion across the standard maturities of 91-day, 182-day, and 364-day bills.
reports that the decreased demand for shorter tenors suggests that investors are positioning themselves for longer-term gains, preferring to lock in higher yields amid expectations of further monetary policy tightening. Recall that the apex bank's Monetary Policy Committee in November last year raised interest rate by 25 basis points to 27.50 percent.
TREASURY BILLS AUCTION INVESTMENT NIGERIA MONETARY POLICY
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