The Central Bank of Nigeria (CBN) successfully conducted an auction of Nigerian Treasury Bills (NTBs) on March 27, 2024, which saw a substantial amount of N1.64 trillion being sold, as shown in the auction result report.The higher stop rates offered have attracted considerable investor interest, reflecting confidence in the nation’s economic instruments.
During this latest auction, three categories of NTBs were offered, with varying tenors of 91 days, 182 days, and 364 days. The auction date was on March 27, 2024, with the allotment date following a day after, on March 28, 2024.
The CBN’s decision to tighten monetary policy by increasing interest rates and auctioning larger volumes of treasury bills is a strategic move to address several macroeconomic concerns.
Source: Parrot Nigeria