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Govt securities auction records N70bn sales The Government securities trading was not very active last week as a total sales of N70.2 billion was recorded as against about N90 billion achieved previous week. According to last weeks figures, the daily Open Market Operation (OMO) which traded on treasury bonds recorded the sum of N10 billion in the period as there was no transaction on Wednesday and Thursday last week. The Monday’s transaction recorded N6.6 billion, Tuesday (N3.3 billion) and Friday (N300 million). However, the rates were same for Monday and Tuesday as range of bid rates stood at 12.50 percent, issue rates 12.50 percent and true yield 12.6518 percent. Also, the rates were same Friday for range of bid rates and issue rates except for true yield which stood at 12.6207 percent. Omo investors were repaid a total sum of N24.9 billion in the period in review. For the primary market auction (PMA), N60.05 billion was recorded in sales even though total public subscription was N88.4 billion as against N60.055 billion on offer. According to available figures, 182 days tenored segment had N5 billion on offer compared to total subscription of N13.2 billion while 91 days tenured segment had N55.055 billion in offer while total subscription was N75.2 billion. The investors of the PMA segment were repaid N59.7 billion for bills that fell due, but the repayments concerned only those with investments on the 90 days tenured segment of the market. In the period, the rates were different for the above segments. For the 182 days segment, the range of bid rates stood between 12.9999 percent to 15 percent, issue rates 12.9999 percent to 15 percent, issue rates 12.9999 percent to 14 percent and the yield 15.50 percent. For the 91 days segment, the range of bid rates was between 12.50 percent to 14.50 percent, issue rate 12.50 to 13.99 percent and true yield 14.4959 percent. MORE ON BUSINESS...

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