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Demand surges to N2.34trn at NTB auction amid rate expectations

Investors submitted bids worth N2.34 trillion at the latest Nigerian Treasury Bills (NTB) primary market auction conducted by the Debt Management Office (DMO), more than double the N1.05 trillion initially offered, underscoring sustained appetite for government securities despite shifting monetary policy signals. Auction results showed that total subscription translated to a bid-to-offer ratio of 2.2 times, reflecting strong investor demand as market participants rushed to secure relatively attractive yields following the recent shift toward monetary easing by the Central Bank of Nigeria (CBN). [...]