Connect with us

Business News

CBN Slightly Moderates One-Year T-Bills Rate to 9.64%

Published

on

By Dipo Olowookere

The Central Bank of Nigeria (CBN) on Wednesday, June 9, 2021, marginally reduced the stop rate of the one-year treasury bills at the primary market.

Investors were surprised to get the 364-day tenor at a rate 0.01 per cent lower than the previous session as the apex bank sold the instrument at 9.64 per cent in contrast to 9.65 per cent they purchased the same bill earlier.

This gave them an indication that the stop rate of the fixed income asset may have peaked and was likely finding its way downwards gradually again.

One of the major reasons for the slice in the rate may have been the strong appetite for the investment tool during the session.

The central bank, which sold the bill for the Debt Management Office (DMO) on behalf of the federal government, had offered N78.7 billion worth of it to investors.

But Business Post observed that the value of the subscriptions received for the long end of the curve stood at N308.5 billion, allowing the bank to tweak with the rate.

According to details of the exercise, subscribers bid within 9.00 per cent and 12.99 per cent, but it was allotted at 9.64 per cent for N164.1 billion.

The 12-month bill was not the only instrument auctioned yesterday by the apex as the two others were also offered for sale to investors.

For the 91-day bill, the bank auctioned N4.7 billion, while N7.8 billion worth of the 182-day tenor was offered for sale at the exercise.

It was observed that subscriptions worth N6.9 billion were received for the three-month maturity, with N5.1 billion allotted as the same 2.50 per cent stop rate, while bids received for the six-month instrument were valued at N11.7 billion with N10.1 billion allotted at 3.50 per cent, the same as the previous primary market auction.

In terms of the total value of the T-bills offered for sale, it stood at N91.2 billion, while the total value of the bids was N327.1 billion, with the amount allotted at N179.3 billion.

News2 mins ago

Bobrisky calls out Yoruba celebrities for alleged eye-service

News6 mins ago

Woman lands in police net for selling her two daughters

World30 mins ago

India: Another Muslim man kills his Hindu partner for using social media

News56 mins ago

Friends gift media personality, Denrele Edun, a Lexus SUV as his 40th birthday present (Video)

News60 mins ago

TNG Interview: FG should save 20,000 species of fishes in the Niger Delta before they go extinct – Hon Abiante

Politics1 hour ago

G7 Pledge Over 1 Billion Vaccine Doses To Poor Nations, Boris Johnson Says

World1 hour ago

India unlikely to accept back four women who converted to Islam and joined the Islamic State

News2 hours ago

”It was the worst decision of my life”- Denrele Edun reveals he once dated a man (video)

Health2 hours ago

One Scary Side Effect of Drinking Too Much Caffeine, According to Science

World2 hours ago

Ex-Muslim who became Catholic now says ‘Rome is lost, and the Qur’an is the road to truth’

News2 hours ago

Constitution review: FCT natives demand Abuja be made a State

Politics2 hours ago

APC Chairman In Plateau State Sacked From Office

News3 hours ago

Shade Ladipo: “Nigerians don’t like when people find hap-p*nis”

News3 hours ago

My grandson’s generation should not know “Up NEPA” – Pastor Tunde Bakare

World3 hours ago

Is Israel Illegally Displacing Arabs In East Jerusalem?

News3 hours ago

BREAKING: Zambian President, Lungu collapses at Defence Force Day event

Business News3 hours ago

Agriculture, Key to Africa’s Quest for Continued Growth and Sustainability

News4 hours ago

Again, gunmen attack Zaria again, abduct residents

World4 hours ago

Pakistan: Mosques collecting donations for Afghan Taliban

News4 hours ago

Photo of Turkey-based Nigerian man allegedly found inside a bottle buried in his uncompleted building

News18 hours ago

Aunt mourns niece’s death, accuses her pastor husband of domestic violence

News22 hours ago

Anambra 2021: LP chooses Agbasimelo, ‘Oga-Ndi-Oga’ Movement boss as its guber candidate

News20 hours ago

Caroline Danjuma says as she wished her rift with Davido over Tagbo’s death never happened

News23 hours ago

Senate President visits wounded soldiers in Kaduna, donates N10m

News23 hours ago

Pretty Mike attends Toyin Lawani’s wedding with convey of baby mamas and their babes (video)

News21 hours ago

Banditry: Things are getting worse daily in Zamfara, Gov Matawalle cries out

News3 hours ago

BREAKING: Zambian President, Lungu collapses at Defence Force Day event

News9 hours ago

Police justifies use of tear gas on June 12 protesters

News4 hours ago

Nigerian Air Force bomb mistakenly strays into wedding party in Niger State

World22 hours ago

Virginia: Muslim school board member from jihad-linked mosque tells high school students to remember their ‘jihad’

News12 hours ago

Boko Haram luring new recruits, spies with N5,000 – Governor Zulum

News19 hours ago

There are no grazing routes in Bayelsa – Governor Diri replies Buhari

News17 hours ago

Nkechi Blessing Sunday: “A man that can be snatched is not worth fighting for”

News13 hours ago

Tension in Abia as Army, ESN clash, soldier shot

News8 hours ago

Diver swallowed by a humpback whale miraculously survives

News8 hours ago

Accident: “Hit and Run” vehicle kills Okada rider in Osun

News22 hours ago

Photos of Celebrities at Toyin Lawani’s traditional wedding

News23 hours ago

Atiku distances self from Koo social media account

News17 hours ago

Photos and video of #IstandwithBuhari protesters in Abuja (video)

World21 hours ago

Pakistan: Muslim mob of over 300 attacks Christian village after villager spills water on clothes of young Muslim

Trending