The Central Bank of Nigeria (CBN) has maintained existing yields on Nigerian Treasury Bills, even as inflation shows signs of easing and real returns on government securities continue to widen.
During Wednesday’s primary market auction (PMA), the financial regulator placed ₦700 billion worth of Treasury Bills on the table for investor subscription.
Buoyed by the abundant liquidity circulating in the banking system and the growing confidence in naira-denominated investments, total bids at the auction surged to ₦1.292 trillion across the 91-day, 182-day, and 364-day maturities.
Market interest remained heaviest on the long-dated instruments as investors continued piling into the one-year papers.
According to auction breakdowns, the 364-day tenor received a remarkable ₦1.230 trillion in total bids, sharply outstripping the ₦450 billion the CBN originally offered.
On the short end, the 91-day Treasury Bill recorded subscriptions valued at ₦34.55 billion, falling short of the ₦100 billion offered for that maturity.
Demand for the medium-term 182-day bill was also weak, attracting bids worth only ₦26.71 billion compared with the ₦150 billion that had been floated for sale.
Overall, the CBN allotted ₦1.029 trillion across all maturities while retaining previous spot rates. Thus, the 91-day bill remained priced at 15.30%, the 182-day paper stayed at 15.50%, and the 364-day tenor held at 16.04%.
 has maintained existing yields on Nigerian Treasury Bills, even as inflation shows signs of easing and...){kind=link}