BREAKING NEWS: CBN Sells Record N1tn In Wednesday’s Treasury Bills Auction - 247Updates
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BREAKING NEWS: CBN sells record N1tn in Wednesday’s Treasury bills auction

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The Central Bank of Nigeria made a record sale of N1 trillion treasury bills at an auction on Wednesday. This is according to CBN’s bi-weekly treasury bills auction, held on Wednesday before the February 26 and 27 Monetary Policy Committee meeting.…CONTINUE READING

The auction on Wednesday marked a significant escalation in the volume of treasury bills, with about N1 trillion up for auction.

This includes N600 billion allocated for the 364-day bills and N200 billion each for the 182-day and 91-day bills.

The N600 billion earmarked for the 364-day tenure represents an unprecedented figure, and the cumulative N1 trillion sale is unparalleled, with records dating back to 2001.

In a recent auction held last month, the CBN sold treasury bills totalling N381.2 billion across various maturities of 91, 182, and 364 days.

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The interest rates for these maturities were recorded at 5 per cent for the 91-day bills, 7.15 per cent for the 182-day bills, and 11.54 per cent for the 364-day bills, respectively.

Meanwhile, Nigeria’s money supply stood at over N78 trillion as of December 2023, a factor many analysts attribute to the nation’s accelerating inflation, which was 28.92 per cent in December.

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