The Central Bank of Nigeria, CBN, sold N81.47 billion in short-dated treasury bills at an auction last Wednesday, with mixed yields.
The apex bank had proposed to sell 138.16 billion naira worth of the debt in its initial announcement, data from the apex bank showed on Thursday, October 20.
A total of N20.92 billion of the 3-month paper was sold at 14 per cent, against 13.90 per cent at the previous auction on October 5th.
The CBN sold N28.20 billion of 6-month debt at 17.09 per cent, unchanged from the last auction. It also sold N32.35 billion of the 1-year bills at 18.30 per cent compared with 18.25 per cent previously.
Total subscriptions stood at N115.26 billion compared with N311.40 billion at the last auction. The banking sector regulator issues treasury bills to raise cash to fund the budget deficit, manage banking system liquidity and curb rising inflation.
