Tuesday, July 22, 2014 11:26 AM / Meristem Wealth Management Limited
Issue on Offer/Summary
The Central Bank of Nigeria(CBN) is scheduled to hold Treasury Bills (T-Bills) Primary Auction on the 23rd of July, 2014.
T-Bills worth a total of NGN134.889bn will mature, while an equal sum will be issued in 91-day, 182-day and 364-day instruments.
The CBN is expected to auction NGN34.889bn and NGN48.000bn and NGN52.000bn in 91-day, 182-day and 364-day instruments respectively.
We advise the following stop rates with the dual purpose of achieving the best possible yield as well as ensuring the success of the bid.
91-Day NGN34.889bn 9.90% - 9.95%
182-Day NGN48.000bn 10.15% - 10.25%
364-Day NGN52.000bn 10.10% - 10.20%
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