CBN to issue N847.4bn treasury bills Q1 2020

Central Bank of Nigeria (CBN) will issue a total of N847.4 billion treasury bills in the first quarter of 2020 as the same amount will be maturing between December and next quarter, next year.

The CBN stated this in the Nigerian Treasury Bills issuance programme calendar released on Wednesday.

The breakdown of the Tbills programme to be issued in the next three months of year 2020, which represents the amount that will mature during the period consists of a total of N75.6 billion for 91-day tenor; N141.04 billion for 182 day-tenor, and N630.8 billion for 364 days tenors.

The CBN issues Treasury Bills twice in a month to help the Federal Government fund its budget deficit, support banks in managing liquidity in the system and curb inflation.

The inflation rate rose to 11.61 percent in the month of October, its fastest increase in four months. Nigeria’s economy expanded 2.28 percent in the third quarter of the year with improvements seen in the telecommunications, manufacturing and so on.

At the government securities market, NTBs and long-term FGN Bonds were issued on behalf of the Debt Management Office (DMO) in the month of October 2019 according to the CBN’s economic report.

Consequently, NTBs of 91- 182- and 364-day tenors, amounting to N255.86 billion, N972.29 billion and N255.86 billion were offered, subscribed to and allotted, respectively. At the 91-day auction, total offer, subscription and allotment were N15.85 billion, N19.78 billion and N15.85 billion, respectively, with bid rates ranging from 10.9000 per cent to 11.7000 percent, while the stop rates were 10.8000 percent and 11.0845 percent.

For the 182-day auction, total offer, subscription and allotment were N21.10 billion, N57.68 billion and N21.10 billion, respectively. The bid rates ranged from 11.3000 percent to 12.7500 percent, while the stop rates were 11.0000 percent and 11.6000 percent. At the 364-day auction, total offer, subscription and allotment were N218.91 billion, N894.83 billion and N218.91 billion, with bid rates ranging from12.9000 percent to 17.0000 percent, while stop rates were 12.9400 percent and 13.2000 percent. On all the maturities, the stop rates ranged from 10.8000 percent to 13.2000 percent.

Investors find solace in fixed income as bond market surpasses equity’s by N187bn

By Teliat Sule • December 8, 2019

Hope Moses-Ashike

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.