Summary of Wednesday’s Treasury Bills Auction at Primary Market

By Dipo Olowookere

On Wednesday, November 15, 2017, the Central Bank of Nigeria (CBN) sold a total of N119.94 billion worth treasury bills at the primary market.

The central bank had offered to auction N32.44 billion of the 91-day bills, N22.82 billion of the 182-day bills, and N64.68 billion of the 364-day bills, but traders oversubscribed the 364-day bills, leaving the two others undersubscribed.

At the close of the auction, the apex bank sold N6 billion of the 91-day bills, N6 billion of the 182-day bills, and N107.94 billion of the 364-day bills with rates clearing at 13 percent, 15.25 percent and 15.60 percent respectively.

Below is a snap shot of the results of the sale obtained by Business Post from the website of the central bank.