CBN: Apex bank sells N129 billion worth of treasury bills

The Central Bank of Nigeria said on Friday that it expects mixed yields compared to returns at earlier auctions.

According to various media reports, Nigeria has raised N129.17 billion in treasury bills with maturities from three months to a year at an auction on Wednesday.

 

The Central Bank of Nigeria said on Friday that it expects mixed yields compared to returns at earlier auctions.

Asoko Insights reports that the result of the auction showed that the CBN sold N57.85 billion worth of three-month paper at 5.61 percent, an increase from 5.34 percent at the November 18 auction.

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The apex bank said it has sold N18 billion worth of six-month debt at 7 percent as opposed to 7.2 percent previously, and N53.32 billion of one-year paper sold at 8 percent in comparison with 8.5 percent.

 

Reports further reveal that total demand for the paper rose to N407.53 billion as opposed to N30.04 billion which investors went after at the last auction.