By NGOZI Onyeakusi

 

The Central Bank of Nigeria (CBN) yesterday raised N215.88 billion at the treasury bill auction, representing N75 billion more than originally planned, after it received subscriptions for almost four times the amount of debt initially on offer.

The breakdown showed that the one-year paper accounted for most of the debt. Total subscription at the auction stood at N559 billion.

Investors bid as much as 18.9 per cent for the one-year debt and as low as 13.15 per cent for the three months note.

The bank raised N22.78 billion in three month bills at 13.15 per cent, N24.74 billion in six month bills at 16.8 per cent and N168.36 billion in one-year bills at 17 per cent.