Investors flooded the Central Bank of Nigeria’s Treasury Bills auction on Wednesday, submitting bids worth N3.44 trillion, the strongest demand seen in over a year as market players moved to lock in high yields.
The CBN offered N1.15 trillion across the 91 day, 182 day and 364 day tenors. This included N150 billion for 91 day bills, N200 billion for 182 day bills and N800 billion for the one year paper. Demand was strongest for the 364 day bills, which reportedly attracted bids far above the amount offered.
The News Chronicle understands that although subscriptions were heavy, the CBN sold N1.06 trillion across the three maturities.
Yields stayed attractive. The 91 day bill cleared at 16.50 percent, while the 182 day paper rose to 18.17 percent from the previous auction. The one year bill eased slightly to 22.49 percent but remained above 22 percent, keeping it a major draw for investors.
Market watchers say demand is being driven by tight liquidity management, rising government borrowing, and investors seeking safe returns in an uncertain environment.
