DMO sells treasury bills worth N2.6trn in March — Report

The Debt Management Office (DMO) sold Treasury Bills (T.bills) valued at N2.669 trillion across its auctions in March 2024.

This was contained in the FMDQ Markets Monthly Report for March.

The amount represents a 3.07% % (N79.54 billion) month-on-month (MoM) increase in the value of T-bills sold across auctions in February 2024 (N2.589 trillion).

Similarly, the DMO sold FGN Bonds worth N608.86 billion (inclusive of N133.20 billion non-competitive bids) via the issuance of a new three-year as well as the re-opening of a seven-year (7Y) and 10-year FGN bonds in March 2024.

The report said the total sale represents a 35.30% oversubscription of the amount offered and a 59.27% (N886.05 billion) MoM decrease on the amount sold in February 2024 (N1.494 trillion) across the 7Y and 10Y FGN bond maturities.

In March 2024, the CBN sold open market operations (OMO) bills worth N1,056 trillion auctioned in the primary market.