NAIRAMETRICS
The 364-day treasury bills stop rates spiked to 19% per annum, the first clear signal that the central bank was moving towards a hawkish monetary policy. The 182-day and 91-day bills also rose to 18% and 12.2%.
At the last auction on the 29th of January, the interest rates for these maturities were recorded at 5% for the 91-day bills, 7.15% for the 182-day bills, and 11.54% for the 364-day bills, respectively.
Nairametrics had reported earlier in the day that the central bank was likely to offer a higher interest rate for treasury bills, a move seen as a way to stifle the depreciation of the naira.
A total of N1 trillion was on offer but was oversubscribed as investors staked a whopping N2.3 trillion. The one-year bill on offer for N600 billion recorded a massive N1.8 trillion subscription out of which the central bank sold N908.7 billion
