CBN wants N600 billion from us today, the money market is crazy

So CBN don come again o. Today they are auctioning N600 billion worth of 364-day Treasury bills and the way investors dey scramble this thing, na wa. Last time they offered N800 billion for the one-year bill but people brought N2.13 trillion in bids. The bank ended up selling N908.7 billion because demand just too much.

For the March 11 auction, the stop rate for 364-day bill was 16.73%. That means if you buy N1 million, you go get about N167,300 interest in one year. But the minimum subscription is N50 million, so this one na for big boys and institutional investors. Ordinary person like us cannot even touch am.

Me I just dey watch from the side. The government dey borrow like nobody's business and the yields dey attract everybody with deep pocket. Meanwhile we dey here with our small savings wey no fit even enter the bidding. When will our own turn come?