The Central Bank of Nigeria (CBN) sold one-year Treasury Bills at a 22.1% stop rate during its July 24 auction to manage liquidity and control inflation. The auction offered a total of N277.96 billion across three tenors: 91-day, 182-day, and 364-day T-Bills. This amount represents a 21.53% increase from the previous month.

Investor demand was strong, with total subscriptions reaching N373.95 billion, though this was a decrease from June’s N774.98 billion.

The CBN allotted N277.96 billion, a slight decline from the previous month’s N284.26 billion. The stop rates for the tenors rose, with the 91-day bills at 18.5%, 182-day bills at 19.5%, and 364-day bills at 22.1%.

Investors showed a strong preference for the 364-day bills, indicating confidence in longer-term securities and expectations of favorable returns.