Treasury Bills Yield Declines to 24.1% Ahead of CBN Auction

The average yield on Nigerian Treasury bills declined to 24.1% in the secondary market due to investors taking positions ahead of primary market auction scheduled for midweek.

Investors are still digesting the impacts on inflation on their respective portfolios and the latest sell down by local deposit money banks seeking liquidity to fund operations.

Reflecting the mood in the market, the yield curve slowed down due to local investors’ decisions to increase their interest in Treasury bill ahead of the Central Bank of Nigeria (CBN) auction.

The Apex Bank will sell Nigerian Treasury bills worth N374.67 billion across standard maturities to investors in its main auction as part of efforts to management liquidity level in the financial system.

On Tuesday, the Treasury bill market experienced a calm session. There was steady interest in specific maturities, particularly those maturing in April, May, and October 2025.

Analysts said they expect trading activities to remain quiet as investors shift attention to auction.

In a market update, Cordros Capital Limited said the average yield contracted at the short (-1bp), mid (-2bps), and long (-5bps) segments following buying interests in the 79-day to maturity (-1bp), 170-day to maturity (-2bps), and 212-day to maturity (-57bps) bills, respectively.

Similarly, the average yield declined by 2bps to 25.9% in the OMO bills segment in the secondary market. #Treasury Bills Yield Declines to 24.1% Ahead of CBN Auction

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