CBN to auction T-Bills worth N95.68 billion next week as Bond yields seen moderate…

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In the just concluded week, the absence of CBN T-bills auction at both Primary and Secondary Market and the matured N54.00 billion worth of treasury bills at the Secondary Market, as well as the distribution of the federally collected revenue worth N619.85 billion, boosted liquidity in the financial market. Hence, NIBOR for overnight funds and 3 months tenure buckets moderated to 11.40% (from 15.13%) and 12.92% (from 13.22%) respectively. However 1 month and 6 months rate increased to 12.20% (from 10.47%) and 15.14% (from 14.75%) respectively. Elsewhere, NITTY moved in mixed directions across maturities tracked as investors bought 3 months and 12 months maturities but sold 1 and 6 months maturities – yields on 3 months and 12 months maturities fell to 11.00% (from 12.09%) and 14.49% (from 14.65%) respectively; however, 1 month and 6 months yields rose to 10.77% (from 10.02%) and 14.05% (from 13.79%) respectively.

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In the new week, CBN will rollover T-bills worth N95.68 billion, viz: 91-day bills worth N10 billion, 182-day bills worth N17.60 billion and 364-day bills worth N68.08 billion.

We expect their stop rates to fall amid buy pressure. Amid the N204.32 billion bills maturing, we also expect yields to further moderate amid declining stop rates.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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