CBN T-Bill Mania: Yields Drop as Naira Steadies and Credit Tightens

Investors poured N3.38 trillion into the 364-day Nigerian Treasury Bill on Wednesday — nearly seven times the N500 billion on offer, forcing the CBN to lower the stop rate to 17.35% (down 31 basis points). The massive oversubscription signals overwhelming institutional appetite for safe yields, even as the bank allotted more than double the advertised amount to absorb demand.

Naira Holds Firm Against Euro

The naira strengthened to N1,552/€1 at the...