The Central Bank of Nigeria, CBN, sold a total of N3.399 trillion worth of treasury bills to investors through the Open Market Operations, OMO, in the fourth quarter of 2017, the apex bank revealed in its Economic Report for fourth quarter 2017.
The report revealed that this amount of OMO bills sold to market players in the period under review was from the N4.997 trillion offered to investors and N3.533 trillion worth of subscriptions received during the period.
The CBN disclosed that the tenors-to-maturity of the instruments in the Q4 2017 ranged from 72 to 365-day period.
Also, the bid rates ranged from 12.9000 to 17.9500 percent, while the stop rates ranged from 12.9000 to 17.9300 per cent.
Furthermore, repayment of matured CBN bills was N3.042 trillion, translating to a net withdrawal of N357.52 billion.
The report also said at the government securities market, NTBs and long-term (FGN Bonds) debt instruments were issued at the primary market on behalf of the Debt Management Office (DMO).
NTBs of 91- 182- and 364-day tenors, amounting to N602.11 billion, N1.162 trillion and N602.11 billion were offered, subscribed to and allotted, respectively, in the fourth quarter of 2017.
Auctions were held as scheduled in October and November, while full refunds were made for investments due in December as directed by the DMO.