The CBN treasury bill was oversubscribed as NGN113.06 billion was realized for bills worth NGN77.61 billion during Wednesday's primary market auction.
According to reports coming from the CBN, a NGN2.19 billion bill for the 91-day period with a maturity date set for April 14th, 2022, a NGN1.46 billion bill for the 182-day period with a maturity date set for July 7th, 2022, and a NGN53.90 billion bill for the 364-day bills with a maturity date set for January 12th, 2023, were all sold yesterday.
Their respective stop rates for the bills are 2.50% (previously 2.49%), 3.44% (previously 3.49%), and 5.50% (previously 4.90%).
This exercise is expected to mop up excess liquidity in the system by reducing the amount of money in circulation.
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