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CBN sustains intervention with NTBs

By on January 26, 2013

In the economic report of 2012, the Central Bank of Nigeria (CBN) has said it had sustained its normal call through Open Market Operation (OMO), as it put out for sale, the Nigerian Treasury Bills (NTBs) in November last year.

In its eighth time intervention within the month, it had given out N820.00 billion for sale and N1.523 trillion for public subscription, while it maintained N939.54 billion allotment.

Making this disclosure in the November 2012 Economic Report, presented by CBN, it said that the business engagement showed mixed fortunes when being compared with the entire offer, subscription and allotment in October of N1.2 trillion, N1.2 trillion and N882.80 billion, as the case may be.

The report says, the bid rates for November transactions was between 12.2 per cent to 19.95 per cent, while the stop rates was between 13.46 and 13.99 per cent, in comparison with 13.25 per cent to 14.75 per cent and 13.95 and 14.10 per cent of the past month.

At the primary market segment, the sales on the Nigerian Treasury Bills (NTBs) were carried out for the 91, 182 and 364-day tenors, while the total amount given out, subscribed to and allotted were N246.03 billion, N659.01 billion and N246.03 billion as the case may be.

N283.11 billion was in October offered by the Central Bank. This amounted to N37 billion higher than the amount given out in November. Total subscription therefore was N587.55 billion. Relatively, N283.11 billion was equally allotted.