CBN Sells N64.6bn Treasury Bills

Central Bank of Nigeria (CBN) has sold N64.56 billion worth of 91-day and 182-day treasury bills yesterday, the bank said in a statement.

The statement said that the instruments were sold on Wednesday, December 28.
It said that out of the amount, it sold N21.83 billion of 91-day treasury bills at a 14.96 per cent marginal rate, which was higher than the 14.09 per cent it sold at the December 21 auction.

The bank also sold 182-day bills worth N42.73 billion at 16.98 per cent as against 16.20 per cent sold at the December 21 auction.

Also, the interbank lending rates eased further within the week to an average of 14.08 per cent when compared with 14.33 per cent of the previous week.

The secured open buy back rate also stood at 13.75 per cent slightly higher than the 13.50 per cent of last week.

Standing facilities are aimed at providing and absorbing overnight liquidity.