T bills cbn borrow n952bn three months

According to the Central Bank of Nigeria (CBN), the bank borrowed N952 billion from the three-month treasury bills (T-bills) auction held on March 24, 2023.

Here's a breakdown of the auction results:

• Total bids received: N1.43 trillion
• Total offered: N952 billion
• Subscription rate: 66.3%
• Stop rate: 6.5% (3-month T-bill)
• Average rate: 6.45%

The CBN uses T-bills to manage liquidity in the financial system, regulate inflation, and maintain monetary stability. The bank borrows from the T-bill auction to inject liquidity into the system, which can help to stimulate economic growth.

It's worth noting that the CBN has been borrowing heavily from the T-bill market in recent times to finance its activities and support the economy. The bank's borrowing from the T-bill market has been increasing steadily, which can have implications for the overall direction of interest rates and the economy.