CBN raises N168bn from treasury bills

The Central Bank of Nigeria (CBN) Treasury Bill yields fell around 10 basis points across board at an auction after it received subscriptions of almost two and half times the amount it wanted to sell from pension funds and foreign investors.

The CBN raised N168.28bn, issuing treasury bills ranging from three-months to one-year, according to a Reuters report.

Total demand stood at N404.32bn, with the one-year bill attracting 58 per cent of subscriptions, it said on Thursday.

The bank issued N33.26bn worth of three-month bills at 9.9 per cent, as against 10 per cent the same tenor fetched at an earlier auction on June 4.

It sold N50.02bn worth of six-month notes at 10.38 per cent, compared with 10.45 per cent at its previous auction and auctioned N85bn in one-year bills at 10.39 per cent, down from 10.49 per cent at its last auction.