In a strategic move to curb capital outflows and sustain investor confidence, the Central Bank of Nigeria (CBN) has raised spot rates on Nigerian Treasury Bills (NTBs) at its latest primary market auction. The decision comes amid declining yields that have heightened the risk of capital flight, particularly among foreign portfolio investors seeking more competitive returns.
According to the CBN’s revised issuance calendar, the apex bank is set to open N550 billion worth of NTBs for subscription this week. The offer, spread across various tenors, is aimed at attracting fresh liquidity into the financial system while providing investors with viable fixed-income opportunities.
Market analysts view the rate adjustment as a response to tightening global monetary conditions and domestic inflationary pressures. By raising spot rates, the CBN seeks to enhance the attractiveness of Nigeria’s debt instruments, ensuring sustained participation from both local and foreign investors.
The outcome of this issuance will be closely watched, as it signals the monetary authority’s commitment to balancing market stability, liquidity management, and inflation control amid ongoing economic challenges.
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