Latest news on treasury bills in nigeria

Here are the latest news and updates on Treasury Bills (T-Bills) in Nigeria:

Recent Auction Results:

• The Central Bank of Nigeria (CBN) conducted a T-Bill auction on March 24, 2023, where it offered N1.03 trillion worth of bills with tenors ranging from 91 days to 364 days.
• The auction saw a total subscription of N1.45 trillion, with the CBN accepting N1.03 trillion worth of bids.
• The highest accepted yield was 12.50% for the 364-day bill, while the lowest accepted yield was 6.50% for the 91-day bill.

Market Trends:

• The T-Bill market has been experiencing a decline in yields in recent weeks, driven by the CBN's efforts to reduce borrowing costs and stimulate economic growth.
• The 91-day T-Bill yield has fallen to around 6.50%, while the 364-day yield has dropped to around 12.50%.
• The CBN has been using T-Bills to mop up excess liquidity from the market, which has helped to reduce inflation and stabilize the naira.

Economic Impact:

• The CBN's T-Bill auctions have been playing a crucial role in managing the country's fiscal policy and stabilizing the economy.
• The T-Bill market has been a key source of funding for the government, allowing it to finance its budget deficit and meet its debt obligations.
• The CBN's T-Bill auctions have also helped to maintain financial stability by providing a safe and liquid asset for investors.

Outlook:

• The CBN is expected to continue conducting regular T-Bill auctions to manage liquidity and stabilize the economy.
• The T-Bill market is likely to remain a key source of funding for the government, and yields are expected to remain relatively low in the short term.
• The CBN may consider increasing the tenor of its T-Bills to attract longer-term investors and reduce its reliance on short-term funding.

Recent Developments:

• The CBN has introduced a new T-Bill auction system, which allows for electronic bidding and reduces the risk of human error.
• The CBN has also increased the minimum subscription for T-Bills to N100 million, to reduce the number of small investors and increase the liquidity of the market.
• The CBN has been working to improve the efficiency and transparency of its T-Bill auctions, including the introduction of a new auction calendar and improved communication with investors.

I hope this information is helpful!