• Friday, April 12, 2024
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CBN sells T-bills worth N177.28bn


 The Central Bank of Nigeria (CBN) sold N177.28 billion worth of treasury bills at its last bi-monthly auction.

The treasury bills were of three months to one year tenor.

The details of the sale were posted on CBN website weekend after the auction held on March 21.

The bank said that N20.28 billion worth of the 91-day bills were sold at a yield rate of 10.72 percent, a rise from the 9.42 percent at the auction of March 6.

Also, N45 billion worth of 182-day treasury bills were sold with a yield of 11.25 percent. The yield rate at the last auction was 9.91 percent.

The apex bank also issued N50.68 billion worth of one-year bills at a return of 11.08 percent. The same return at the March 6 auction.

Total subscriptions for the bills stood at N273.53 billion, an increase over the N123.73 billion worth demanded on March 6.

The 91-day, 182-day and one-year bills have maturity dates of June 6, September 9 and March 20, 2014, respectively.