CBN sells one-year Treasury Bills at 22.1% in July auction

The Central Bank of Nigeria (CBN) has sold one-year Treasury Bills (T-Bills) at a stop rate of 22.1% during its July auction.
According to the auction result, the total amount offered by the CBN in this auction was N277.96 billion spread across the different tenors, representing an increase of 21.53% from N229.72 billion offered in the previous auction of June 26, 2024.
The total subscription amount for these tenors combined was up to N373.95 billion, exceeding the amount offered and reflecting strong investor confidence and demand for government securities.
However, this was a decrease of 51.68% from N774.98 billion total subscriptions recorded in the previous months.
At the latest auction, the total sales, for the auction amounted to N277.96 billion, which is a marginal decline of 2.22% from the N284.26 billion allotted last month.