Summary of Wednesday’s Treasury Bills Auction at Primary Market

By Dipo Olowookere

On Wednesday, November 15, 2017, the Central Bank of Nigeria (CBN) sold a total of N119.94 billion worth treasury bills at the primary market.

The central bank had offered to auction N32.44 billion of the 91-day bills, N22.82 billion of the 182-day bills, and N64.68 billion of the 364-day bills, but traders oversubscribed the 364-day bills, leaving the two others undersubscribed.

At the close of the auction, the apex bank sold N6 billion of the 91-day bills, N6 billion of the 182-day bills, and N107.94 billion of the 364-day bills with rates clearing at 13 percent, 15.25 percent and 15.60 percent respectively.

Below is a snap shot of the results of the sale obtained by Business Post from the website of the central bank.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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