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CBN Sells N134.9bn Treasury Bills

CBN Sells N134.9bn Treasury Bills

Emefiele-New CBN Gov

The central bank disclosed this on last week, a day after the sale.

The central bank on sold N34.88 billion in the 3-month paper at 9.84 per cent, compared with 9.95 per cent at the previous auction on July 9. It also sold N48 billion in 6-month debt note at 10.10 per cent, 14 basis points lower than the 10.24 percent at the previous auction.

A total of N52 billion was sold in the one-year paper at 10.40 percent, higher than 10.34 percent similar-tenor paper fetched at the June 25 auction, the last time such paper was sold.

Demand for the debt was N305.74 billion, driven by high level of excess liquidity in the banking system, traders said.

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