Apex bank raises N183.64bn from lower yield treasury bills

monjola sotubo 15:57 - 17 April 2015

The Treasury bill yields declined in tandem with diminishing yields on fixed assets on renewed investor interest in the local debt market after a peaceful presidential election.

The Central Bank of Nigeria (CBN) has raised N183.64bn ($923m) from the sale of lower yield treasury bills.

The CBN gave details of the transaction on Thursday, April 16, 2015, saying it had raised N20.15bn in the three-month debt at 10.5 per cent at the auction held on Wednesday, April 15, compared with 10.69 per cent at the March 25 auction.

The bank also sold a total of N33.49bn worth of the six-month paper at 14.1 per cent, lower than 14.55 per cent at the previous auction.

The CBN is planning to issue more Treasury bills, to the tune of N995.5bn, during the second quarter of this year.