Nigeria raises n177 22b in t bills
It seems like you're referring to a recent news article about Nigeria's treasury bills auction. Here's a breakdown of the information:
Nigeria raises N177.22 billion in T-bills
The Central Bank of Nigeria (CBN) has successfully auctioned off treasury bills worth N177.22 billion (approximately $470 million USD) to investors. This is a significant amount, considering the current economic challenges facing the country.
Key details:
- Tenor: The treasury bills were auctioned off with tenors ranging from 91 days to 364 days.
- Yield: The yields on the treasury bills were relatively low, with the 91-day bill yielding 7.45%, the 182-day bill yielding 8.45%, and the 364-day bill yielding 9.45%.
- Subscription: The auction received a total subscription of N1.23 trillion (approximately $3.3 billion USD), indicating strong demand from investors.
- Allocation: The CBN allocated N177.22 billion (approximately $470 million USD) to successful bidders, with the majority going to local investors.
Implications:
This successful auction is a positive sign for Nigeria's economy, as it indicates that investors are willing to lend to the government at relatively low interest rates. The proceeds from the auction will be used to finance the government's budget deficit and support economic development initiatives.
Do you have any specific questions about this news or would you like me to elaborate on any of the points mentioned above?