The Central Bank of Nigeria (CBN) raised N284.26 billion from yield-hungry investors in its latest Nigerian Treasury Bills (NTBs) auction on Wednesday, June 26, 2024. According to the Debt Management Office (DMO), the auction attracted significant interest, with total subscriptions amounting to N773.98 billion, far surpassing the offer of N228.72 billion.
The auction featured three tenors:
- 91-day bills: Offered N29.83 billion, received subscriptions worth N36.29 billion, with a stop rate of 16.30%.
- 182-day bills: Offered N30.67 billion, received subscriptions worth N40.58 billion, with a stop rate of 17.44%.
- 364-day bills: Offered N168.21 billion, received subscriptions worth N697.11 billion, with a stop rate of 20.68%.
This auction saw a 417.1% increase in the amount offered compared to the previous auction on June 13, 2024, and a 414.7% rise in total sales. The high subscription rates indicate strong investor confidence in Nigerian Treasury Bills amidst prevailing economic conditions.
The auction featured three tenors:
- 91-day bills: Offered N29.83 billion, received subscriptions worth N36.29 billion, with a stop rate of 16.30%.
- 182-day bills: Offered N30.67 billion, received subscriptions worth N40.58 billion, with a stop rate of 17.44%.
- 364-day bills: Offered N168.21 billion, received subscriptions worth N697.11 billion, with a stop rate of 20.68%.
This auction saw a 417.1% increase in the amount offered compared to the previous auction on June 13, 2024, and a 414.7% rise in total sales. The high subscription rates indicate strong investor confidence in Nigerian Treasury Bills amidst prevailing economic conditions.