Treasury bills worth N32.23 billion are expected to mature at the T-bills market this week. Also, the treasury bills market is expected to be bullish this week with rates relatively stable.
This development is expected to result into stability in interbank lending rates at the market this week.
Last week, the rates slid as the Central Bank of Nigeria (CBN) auctioned T-bills at the primary market, selling bills worth N117.2 billion.
A breakdown showed it sold the 91-day bills worth N7.89 billion at 12.95 percent, 182-day bills worth N6.21 billion at 15 percent, and 364-day bills worth N103.01 billion at 15.57 percent, Business Post reports.
Last FGN Savings Bond for 2017 Ends Friday, December 8
The last FGN Savings Bond auction exercise for the year 2017 commenced on Monday, December 04, 2017, and will end on Friday, December 8, 2017.
The exercise is to be conducted by the Debt Management Office (DMO) on behalf of the Federal Government.
The debt office would be offering 2-Year FGN Savings Bond due December 13, 2019 at 11.738 percent per annum; and the 3-Year FGN Savings Bond due December 13, 2020 at 12.738 percent per annum.
Investors are expected to subscribe N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million with the interest payable quarterly.
The DMO said the bonds would be backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.
“Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office. Please visit www.dmo.gov.ng for the list of distribution agents,” the debt office advised.