The Central Bank of Nigeria (CBN) will tomorrow (Wednesday) roll over maturing Treasury Bills worth N109.43 billion across 91-day (N12.46 billion), 182-day (N25.37 billion), and 364-day (N71.60 billion) tenors.

Last month, the CBN released its calendar issue where it planned to issue a total of N722.17 billion treasury bills in the third quarter of 2021 as the same amount will be maturing between June 2021 and August this year.

Read Also: Naira firms against dollar despite low liquidity

The Nigerian Treasury Bills secondary market closed on a positive note on Tuesday with average yield across the curve decreasing by 3 bps to close at 6.86 percent from 6.89 percent on the previous day, according to a report by FSDH Research.

Average yield across the long-term maturities declined by 5 bps, while the average yields across short-term and medium-term maturities closed flat at 4.58 percent and 5.57 percent, respectively. Buying interest was witnessed in the NTB 26-May-22 (-30 bps) and NTB 9-Jun-22 (-25 bps) maturity bills, while yields on 19 bills remained unchanged.

Read Also: Interbank rates stable on budget, matured T-Bills

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The Overnight (O/N) rate increased by 4.00 percent to close at 19.00 percent as against the last close of 15.00 percent, and the Open Buy Back (OBB) rate also increased by 4.00 percent to close at 18.50 percent compared to 14.50 percent on the previous day.

At the foreign exchange market, Nigeria’s currency reversed the gain made the previous day as it depreciated marginally by 0.06 percent at the official market.

The naira/dollar exchange rate closed at N411.75k on Tuesday as against N411.50k closed on Monday at the Investors and Exporters (I&E) forex window, data from the FMDQ said.

Currency traders who participated at the trading session on Tuesday maintained bids at between N400.00k and N412.50k per dollar.

At the Bureau De Change (BDC) and the parallel market, naira closed flat at N500 and N505 per dollar respectively.

The foreign exchange market daily turnover declined by 34.05 percent to $116.15 million on Tuesday from $176.13 million, the same data indicated.

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.

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