1 Billion Dollars at the T-Bills auction yesterday   
Sep 20 (Lagos) - The rising yeild on the 1 year Treasury bill had investors bringing more than USD 1 billion to the table yesterday at the Primary Market Auction. 

The total subscription for the 364 day Treasury Bill was 419 billion that is about USD 1.3 billion at the official exchange rate. 

The CBN ofcourse did not collect the whole 419 billion and alotted only 168.3 billion but that money is going to come back in two weeks time or is going to enter via the secondary market. 

The money could also be from the proceeds of the N 500 billion received from the Paris club. 

That is a massive sum of cash and it shows why the country's stock market is suffering. People what the risk free 13% any day over the anxiety and other health issues that investing in the stock market at this particular time is causing to some investors. 

Stocks are hitting new lows everyday and big names like DANGCEM , GUARANTY , ZENITHBANKPZ , CADBURY , WAPCO , FLOURMILL , UACN , INTBREW are at or near a new one year low. Investors are still not ready to touch these stocks because they are expecting them to decline even further. 

At some value these stocks are buys and that old saying of warren Buffet comes to mind that goes like "BUY WHEN OTHERS ARE FEARFUL". Right now people are fearful but is that fear without reason is the million Dollar question. 

reporting for easykobo.com on Thursday, Sep 20 2018 from Lagos, Nigeria

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