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  • Business - Market Data
  • Updated: 2 weeks ago

CBN Treasury Bill Oversubscribed At N113.96 Billion

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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