The Central Bank of Nigeria (CBN) plans to auction a N610.08 billion worth of treasury bill as the United Kingdom Office for National Statistics is expected to release the country’s consumer price index (CPI) following the unexpected fall to 1.7 percent in September.
Monday, November 18
DMO to auction N120 billion FGN bonds
The Debt Management Office will be issuing three tranches of FGN bonds worth N120 billion today.
The issuance includes the reopening of a five-year N60 billion bond alongside reopenings of a seven-year bond, valued at N60 billion.
At the last auction in August, DMO sold N289.60 billion across the two bonds offered with the marginal rates of the longest tenure at 21.74 percent.
It sold more than double its offer on its longest tenure (reopened seven-year bond) in the October FGN bond auction.
The N120 billion FGN bonds offered across three tranches on Monday are the lowest auctioned this year, down from N300 billion offered last month.
Analysts said that the reduced offer size signalled a possible reduction in government borrowing.
The DMO is set to issue between N80- N100 billion at every auction in the fourth quarter of 2024.
Nigeria’s total debt stock rose in the first quarter (H1) of 2023 to N121.67 trillion, from N97.34 trillion as of December 2023, according to data from the Debt Management Office (DMO).
Wednesday, November 20
CBN to auction N610.08 billion Treasury Bills
The Central Bank of Nigeria will be auctioning treasury bills worth N610.08 billion on Wednesday.
(Business Day)
