• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigeria’s 1yr T-bill six times oversubscribed despite liquidity squeeze

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
76
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Gulf Countries Respond to U.S. Trade Pressure With Trillion Dollar Plans

Wall Street Forecasts Oil in the $50s Next Year

Ghana 5th in Africa for IMF Outstanding Debt in August 2025

Nigeria’s 1yr T-bill six times oversubscribed despite liquidity squeeze

Nigeria attracted six times more cash than it planned to raise from the sale of one-year Treasury Bills on Wednesday despite a liquidity squeeze that muted the interest of local banks.

Investors staked a total of N725 billion on the one-year bill versus the N122 billion that was offered. Nigeria eventually sold N334 billion at a yield of 26.1 percent, the same interest rate as the last auction.

The oversubscription of the one-year treasury bill was despite the liquidity squeeze in the market. Total subscriptions at the auction was N757 billion, the lowest level this year.

“The banks are not so buoyant in terms of liquidity and couldn’t pull their weight in the auction, that’s why subscription levels were low compared to the previous auctions and CBN had to maintain elevated yields,” Oladipo Samuel, portfolio manager at Lead Asset Management Limited, an asset management company.

Over double of the N7.8 billion offered in the 91-day bill was demanded, and N16.5 billion sold.

The CBN sold a total of N362.45 billion across all tenors, more than double the N142.45 billion it offered.

The yield on the 182-day bills and 91-day bills were also maintained at 18.58 and 16.93 percent respectively.

Samuel said the market was really tight currently, as the Standing Lending Facility window has been over a trillion for the past two days.

The Standing Lending Facility (SLF) is a line of short-term credit available for commercial banks to draw on when they need to meet immediate short-term withdrawals from their customers.

In March the Monetary Policy Committee raised interest rate by 200bps to 24.75 from 22.75 percent and increased the asymmetric corridor to +100bps/-300 basis points.

Similarly Joshua Joseph, fixed income analyst at CSL Stockbrokers said that the liquidity in the market is very low.

“As at close of business Tuesday, liquidity was a negative of N800 billion. On Monday banks tapped into the SLF window to get about N1 trillion and that resulted in the negative we saw,” Joseph said.

CBN data shows that the SLF was at N1.05 trillion as of Wednesday.

“A lot of banks have been borrowing from the SLF window and when a bank is exposed to SLF it can’t go for auctions, because the CBN won’t allow it,” Samuel said.

 

Source: businessdayng
Via: norvanreports
Tags: liquidity squeezeNigeria’s 1yr T-billNigeria’s 1yr T-bill six times oversubscribed despite liquidity squeeze
No Result
View All Result

Highlights

Joe Jackson Warns BoG’s 10% NPL Target Could Squeeze SME Lending

SOEs Record 28.3% Revenue Growth But Post GHS 9.67bn Net Loss in 2024 – SIGA Report 

Three SOEs Make First Dividend Payment of GHS 29.3m in 30 years

Gov’t Misses T-Bills Target by GHS 3.38bn as Investor Appetite for Debt Shifts to BoG Securities

Tough but Right: Will BoG’s Currency Crackdown & NPL Clean-Up Fix the Economy or Freeze Growth?

Equities Retreat as MTN Drags Composite Index Lower

Trending

Business

Gulf Countries Respond to U.S. Trade Pressure With Trillion Dollar Plans

September 1, 2025

Gulf Countries Respond to U.S. Trade Pressure With Trillion Dollar Plans Over the past decade, the Gulf...

Wall Street Forecasts Oil in the $50s Next Year

September 1, 2025

Ghana 5th in Africa for IMF Outstanding Debt in August 2025

September 1, 2025

Joe Jackson Warns BoG’s 10% NPL Target Could Squeeze SME Lending

September 1, 2025

SOEs Record 28.3% Revenue Growth But Post GHS 9.67bn Net Loss in 2024 – SIGA Report 

September 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.