Cardoso lures investors with highest yield on T-bills

Yemi Cardoso, Central Bank of Nigeria (CBN) governor, targeted investors with a record 29.87 percent yield on one-year treasury bills on Wednesday trading. The CBN’s record yield was not just aimed at wooing investors but also targeted at halting foreign exchange (FX) speculation, analysts told BusinessDay. “I think Cardoso is trying to reduce people speculating on the FX by luring them with higher yields. After all, the essence of buying FX is for capital appreciation,” Ayodeji Ebo, managing director Optimus by Afrinvest, a wealth manage