By Dipo Olowookere
The last auctioning of treasury bills at the Open Market Operations (OMO) by the Central Bank of Nigeria (CBN) was conducted yesterday and the apex bank could only sell 49.61 percent of what it offered to traders at the market.
Business Post reports that the central bank had put up N200 billion worth of bills for auctioning, but it eventually sold N99.22 billion worth of the government security.
According to our correspondent, it was observed that the market was relatively quiet like it had been this week.
At the close of the market yesterday, the apex bank sold N10.84 billion worth of the 90-day bill at 12.80 percent stop rate, while the 279-day bill worth N88.38 billion was sold by the apex bank at 14.60 percent.
The market is expected to resume next year on Wednesday, January 3.
Adedapo Adesanya