Rates to decline on N480bn worth of T-bills maturities

THERE are expectations that stop rates will decline as Treasury-bills worth N480.09 billion will mature via the primary market which will outweigh T-bills worth N197.59 billion to be auctioned by the Central Bank of Nigeria (CBN) via the primary market.

The T-bills to be auctioned by CBN will be through 91-day bills worth N20.37 billion, 182-day bills worth N31.75 billion and 364-day bills worth N145.47 billion.

Hence, “we expect the stop rates of the issuances to decline amid demand pressure. In the new week, we expect the value of FGN Eurobonds prices to appreciate (and yields to moderate) amid increased flight to safety by institutional investors owing to fear of currency devaluation,” dealers from Afrinvest (West) Africa Limited said.

Meanwhile, the Central Bank of Nigeria (CBN) has announced an offer of N197.598 billion treasury bills of three tranches, accessible by August 27, 2020.The bills which will be offered through Dutch auction are for 91-day tenor, 182 days, and another for 364 days tenor.

In a publication signed by its Government Securities Office, CBN said it issued the offer on behalf of the Debt Management Office (DMO). A breakdown shows the bills are N20.373billion, N31.752billion and N145.475billion, which will be auctioned this week.

A bid may be for authorized money market dealers’ own account, non-money market dealers or interested individuals, just as the result of the auctions would be announced next Wednesday as the bank reserves the right to reject any bid.

The bank also assured that allotment letters would be issued for successful bids while payment for the successful bids would be made to individuals’ accounts with the CBN.


North May Back Atiku In 2023 — Yakassai •Says APC should pick Southerner as presidential candidate •‘Tinubu better than Buhari who has no plan’
IF former vice president, Atiku Abubakar, contests for the presidency in the next general election in 2023, the majority of the votes from the North will go to him, elder statesman and politician, Alhaji Tanko Yakassai, has said. Yakassai, a former Liaison Officer to former President Shehu Shagari, described both Abubakar and former Lagos State governor, Senator Bola Tinubu, as potential 2023 presidential contenders…

Buhari Suspends Babalakin As UNILAG Pro-Chancellor, Sacks Acting Vice-Chancellor
President Muhammadu Buhari has suspended the Pro-Chancellor and Chairman of Governing Council of University of Lagos (UNILAG), Dr Wale Babalakin, SAN and the Vice-Chancellor, Professor Oluwatoyin Ogundipe, over the lingering crisis…

‘I Lived As A Beggar. I Begged To Eat, I Begged To Wear Clothes, I Even Begged To Put My Head Under A Roof’
EMMANUELLA Udeh had just finished peeling melon inside the one-storey building she lives in when Saturday Tribune called. Surrounded by a calm environment in Emene, Enugu East Local Government Area of Enugu State, the 39-year-old paraplegic recounted her experience since she was disengaged as a beneficiary of N-Power, a scheme set up by the Federal Government to address the issues of youth unemployment and…

We Pay N250,000 Bribe Per Trip, Lagos Truck Owners Cry Out
On Monday last week, the Lagos State government staved off a planned strike by the Petroleum Tanker Drivers Association (PTDA) in the state over alleged extortion of its members by security operatives and hoodlums in the course of conducting their lawful business…

It’s Sad That Public Servants Depreciate Immediately After Retirement —Osun Ex-HoS, Akinwusi
I must tell you that I am one of the saddest people around because having served the government for a good part of one’s life, 35 years, and retiring with nothing to take home is disheartening. Even when such people were still in the active service, their monthly earnings were not sufficient for them. Before I became the HoS, I was always challenged when I saw people retire and discovered that the quality of their lives depreciated…

El-Rufai’s Humiliation And Mamman Daura’s Curious London Trip
The rescission of the invitation extended to Governor Nasir El-Rufai to speak at the annual conference of the Nigerian Bar Association (NBA) as a consequence of sustained social media pressures from people who are discomfited by his history of intolerance and verbal terrorism against his own people will inflict tremendous violence on the governor’s psychic wellbeing…

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More