March 20 (Lagos) - As the stock market continue to sell-off following the release of results from the biggest banks of the Country, all eyes will be fixed on tomorrows two auctions from CBN and DMO.
CBN will be conducting a Nigerian Treasury Bills Primary Market Auction. Total volume on offer is N 54 billion – broken down into N 5 billion for 91 days tenor, N 27 billion for 182 days tenor, and N 22 billion for 364 days tenor.
The second auction will be from the Debt Management Office of Federal Government of Nigeria Bonds Primary Market Auction. Total Volume on offer is N 70 billion – broken down into N 10 billion for 5 Year tenor, N 30 billion for 7 Year tenor, and N 30 billion for 10 Year tenor.
The money that will pour into these Treasury Bills and Bonds will not be small, so we can expect some of it to come out from the Stock Market.
reporting for easykobo.com on Tuesday, March 20 2018 from Lagos, Nigeria
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