Nigeria put a record N1 trillion worth of Treasury Bills on offer at an auction on Wednesday, the highest since the CBN started tracking data.

The N1 trillion auction includes N600 billion allocated for the 364-day bills, and N200 billion each for the 182-day and 91-day bills.

Sources say the yield on the one-year treasury bill at Wednesday’s auction jumped to as high as 20 percent.

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The Debt Management Office is yet to publish the results of the auction which will show the subscription level and the stop rates.

In the last auction, the stop rate for the one-year bill was 11.54 percent while the 91-day bills and 182-day bills closed at 5 percent and 7.15 percent respectively.

Details later…

Eniola Olatunji is an experienced journalist at BusinessDay, where she has specialized in reporting on personal and business finance since March 2022. She focuses on creating engaging and precise news stories, with a keen emphasis on the fixed-income market, banking, personal finance, cost of living, and the Nigerian economy. Her work also encompasses extensive market research and economic trend analysis. Eniola is passionate about empowering individuals to make informed financial decisions and is dedicated to shedding light on the intricate workings of the economy. She holds a Bachelor of Science degree in Pure & Applied Chemistry from the University of Lagos. Eniola Olatunji was shortlisted for The Future Awards Africa Prize for Journalism..

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