CBN Set To Sell N252bn Treasury Bills This Week

The Central Bank of Nigeria (CBN) says it will offer about N252 billion in treasury bills next week. The offer comprises of N6.10 billion, N69.57 billion, and N177.22 billion of the 91-day, 182- day, and 364-day bills each.

Meanwhile proceedings were broadly bearish in the treasury bills market this week, as average yield rose by 11 bps to 14.16%, amidst relatively tight liquidity earlier in the week.
Yields expanded across all ends of the curve – short, mid, and long. Dealers say the likely expected squeeze in system liquidity, particularly in the latter part of the coming week will constrain demand and cause yields to expand.