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  • Business - Market Data
  • Updated: January 13, 2022

CBN Treasury Bill Oversubscribed At N113.96 Billion

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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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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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

More From this Author

Parallel Market EXCHANGE RATE

Currencies Buy Rate Sell Rates
USD - NGN 560.00 570.00
EUR - NGN 645.00 655.00
GBP - NGN 760.00 770.00
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