Stop Rate for 364-day Bill Slips to 2.24% amid High Demand…


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In the just concluded week, CBN auctioned more
T-bills (worth N217.06 billion) than the matured
T-bills worth N113.12 billion in the primary

Notably, stop rates for all tenor buckets
moderated further given the high demand,
particularly at the longest end of the curve (as

Specifically, stop rates for the 364-day bills fell further to 2.24% (from 4.78%).

Also, 91-day bill and 182- day bill rates fell to 0.10% (from 0.29%) and 0.30% (from 1.80%), respectively.

In line with the direction of rates in the primary market, NITTY for 1-month, 3-month, 6-month, and 12-month maturities decreased to 0.95% (from 1.28%), 1.23% (from 1 .66%), 1.49% (from 2.33%) and 1.92 (from 3.11%).

Elsewhere, given the matured OMO bills worth N40.00 billion, NIBOR fell for all tenor buckets amid financial system liquidity ease.

Specifically, NIBOR for Overnight Funds, 1-month, 3-month, and 6-months moderated to 10.75% (from 12.60%), 10.75% (from 13.15%),11.80 (from13.80%)and12.88(from14.30%),respectively

Godwin Okafor
Godwin Okafor
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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