Nigeria's Treasury Bills Oversubscribed
More funds for Nigeria as the nations last treasury bills auction was sought for. This has been confirmed by the Central Bank of Nigeria (CBN) announcing an over subscription of 112.15 billion naira. The CBN offered a total of 34.38billion naira worth of T-bills across the 91-day, 182-day and 364-day tenors. The 91-day tenor saw an oversubscription of 10.68 billion naira as it received a total subscription of 15.06 billion naira, compared to the 4.38 billion naira offered. The 182-day tenor saw an under-subscription of N1.41bn as a total subscription of 8.59 billion naira was received, compared to the 10 billion naira offered. The 364-day tenor witnessed the highest interests as it was oversubscribed by 102.88 billion naira. Nigerian dealers raised their secondary-market bids for one-year treasury bills to 14 per cent from 11 per cent last week. The bid offer spread on the paper doubled to 200 basis points as some ...