The Olayemi Cardoso-led Central Bank of Nigeria (CBN) raised N284.26 billion from investors in its latest Nigerian Treasury Bills (NTBs).
The auction on Wednesday drew total subscriptions of ₦773.98 billion, significantly exceeding the ₦228.72 billion offered. This marked a 417.1% increase from the ₦44.23 billion offered in the previous auction on June 13, 2024.
Additionally, total subscriptions surged by 89.8% from ₦407.76 billion, while total sales increased by 414.7% from ₦55.23 billion.
The auction featured three tenors: 91-day, 182-day, and 364-day bills.
Treasury Bills (T-Bills) allow the Central Bank of Nigeria to manage the money supply by issuing or redeeming them.
T-Bills provide a mechanism for the government to raise short-term funds to finance operations, including bridging budget deficits.
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