CBN to auction N216.09bn Treasury bills Thursday

The Central Bank of Nigeria is expected to auction N216.09 billion treasury bills on Thursday.

This is according to CBN’s recent data on Treasury Bills.

Accordingly, the apex bank will be auctioning N16.59 billion for the 91-day tenor, N51.34 billion for the 182-day tenor, and the 364-day 148.15 billion.

Recall that at the last Treasury Bill auction, the one-year Treasury Bill yielded 28.36 percent, the highest this year, fueled by an interest rate hike which stood at 26.75 percent in July 2024.

Data showed the recent Treasury bills yield of 28.36 percent was a 0.86 percent increase from 26.96 percent at the last auction and higher than the 26.01 percent yields that have been since March.

CBN had announced its plan to issue N1.56 trillion in Treasury bills during the third quarter of 2024, matching the amount set to mature between June and August this year.

The amount to be offered in Q3, 2024 is 4.87 percent lower than N1.56 trillion issued in the second quarter of 2024.

Treasury bills are government securities issued by the CBN to help achieve short-term capital needs.