Investors oversubscribe treasury bills auction, demand hits N1.92trn

BY TUNDE OPALANA

The Federal Government of Nigeria (FGN) Treasury Bills auction held on Wednesday was over- subscribed.

This is according to the results of the Treasury Bills (T-Bills) auction conducted on Wednesday, March 5, 2025, released by the Central Bank of Nigeria (CBN) on Thursday.

The CBN in the auction offered N650 billion, but there was a strong investor demand, attracting N1.92 trillion in total subscriptions.

This indicated that the Federal Government allotted N830.44 billion, overshooting its initial N650 billion offer, as demand surged.

According to the apex bank, breakdown of auction results indicated strong participation across the three maturities of 91- day, 182-day and 364-day.

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The results however showed that the 364-day bill dominated demand, accounting for 94% of total subscriptions.

For the 91-day T-Bill, the CBN offered N70 billion, received N62.57 billion in subscriptions, and allotted N61.52 billion at a stop rate of 17.00%.

For the 182-day T-Bill, the CBN offered at N80 billion, it attracted N60.05 billion in subscriptions, with an allotment of N50.95 billion at a stop rate of 17.75%.

While for the 364-day T-Bill, the most sought-after instrument, with N500 billion on offer, drew N1.80 trillion in bids. The government allotted N717.97 billion, with the stop rate closing at 17.82%, down from 18.50% in February.