Nigerian treasury bills yield tumbles as CBN rates fall rapidly

Yield tumbles to 1.5 per cent across the tenor following a large decline in spot rates offered by the Central Bank of Nigeria (CBN) at the primary market auction last week.

The auction result indicated that CBN allotted T-bills worth N220.53 billion to fully refinance the N198.34 billion worth of matured Treasury bills. The demand came stronger than anticipated, forcing lower spot rates across 91-day, 181-day and 364-day bills.

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