Recent data from the Central Bank of Nigeria (CBN) reveal that it plans to auction N216.09 billion worth of treasury bills on Thursday, August 8, 2024.
The apex bank will auction N16.59 billion for the 91-day tenor, N51.34 billion for the 182-day tenor, and N148.15 billion for the 364-day tenor.
It’s worth noting that during the last Treasury Bill auction, the one-year Treasury Bill generated a yield of 28.36%, the highest this year, due to an interest rate hike to 26.75% in July 2024.
Data also reveals that the recent Treasury bills yield of 28.36% represented a 0.86% increase from 26.96% at the last auction and was higher than the 26.01% yields observed since March.
The CBN had announced its intention to issue N1.56 trillion in Treasury bills during the third quarter of 2024, matching the amount set to mature between June and August this year.
The amount to be offered in Q3 2024 is 4.87% lower than the N1.56 trillion issued in the second quarter of 2024.
Treasury bills are government securities issued by the CBN to help fulfil short-term capital needs.
