Q2NTBCalendar: DMO Cuts Total offered size in Half

The Debt management office through the central bank of Nigeria has release its Second quarter calendar starting 15-Mar to 31-May 2018.

As expected, the DMO has cut its total issuance size by 50% as in the last auction.

Significant to note is that more volumes have also been shifted from the 364-day to the 182-day bill.

The 364-day bills consequently took the most hit, with total offer cut to N193bn from N825bn, while the total offer on the 182-day bill rose to N241bn from N92bn.

The 91-day bill was relatively unchanged, with total offer size of N48bn.

The DMO however maintained its caveat that the calendar remains “subject to change at short notice”.

We will advise on our expectations and recommended strategies in due course.

See calendar below


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