CBN sells treasury bills worth N177.28bn

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

The Central Bank of Nigeria 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 the Central Bank’s website on Friday 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 10.72 per cent, a rise from the 9.42 per cent at the auction of March 6.

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

CBN also issued N50.68 billion worth of one-year bills at a return of 11.08 per cent. 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, Sept. 9 and March 20, 2014, respectively.



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