…FG allots fewer NT-Bills amidst oversubscription
The latest Nigerian Treasury Bills (NT-bills) primary market auction signals a potential return to normalcy in the country’s yield environment, as evidenced by a notable drop in yields across all tenors. The benchmark one-year bill has dropped to 19.4 percent, levels below 2024 interest rate hikes.
After a period of elevated yields, driven by high inflation and aggressive monetary policy tightening, the consistent decline observed in this auction suggests a more stable and predictable market for government securities.
