The Central Bank of Nigeria (CBN) conducted its latest Primary Market Auction (PMA) on Wednesday, May 8th, 2024, offering one-year treasury bills with a maturity date of August 8th, 2025, at a stop rate of 20.70%.
This is the same rate offered at the April 24, 2024 auction, which had high demand for the 364-day bill.
In total, the CBN raised N274.67 billion, which is far lesser than the N362.45 billion raised in the previous auction across various maturities.
The high subscription figures for all tenors reflect robust investor interest in government securities despite prevailing economic challenges.
