Business
CBN Sells N134.56bn Treasury Bills
A total of N134.56 billion
was raised by the Central Bank of Nigeria (CBN) in treasury bills with lifespan ranging from three months to one year as yields records mixed performance during the bank’s bimonthly auction last week.
A breakdown shows that the apex bank sold a 91-day paper with a return of 14.09 per cent at the value of N21.84 billion, a 0.04 per cent higher than the 14.05per cent at the previous auction.
It also issued a 182-day bills at 15.31 per cent at the value of N52.72 billion, a flat return when compared to the previous auction. A total of N60 billion worth was issued in the 364-day bill at a return of 15.6 percent.
In all, a total of N307.88 billion was subscribed even as investors showed preference in the one year paper that attracted about N192.64 billion. Across all maturities, treasury bills worth N35.78 billion were allotted on non-competitive basis.
During the week under review, only three bonds were on offer at the secondary market for fixed income securities. A five-year bond that is to mature in April 27,2017 at N30 billion with a yield of 15.86 per cent as against 15.10 per cent.
Also, a 7-year debt paper that will mature in June 29, 2019 was issued at N30 billion at the rate of 16.00 per cent even as a 10-year bond maturing in January 27, 2022 was issued at the value of N23.91 billion at the yield of 16.21 per cent.
Meanwhile, the equities market of the Nigerian Stock Exchange had the bulls in charge of its activities during the review week as the bench mark index, the NSE All-Share which opened the week at 21,394.77 basis points finished at 21,599.57 basis points representing 0.96 per cent rise.
Similarly the cumulative Market Capitalization of listed equities which opened the week at N6.829 trillion closed at N6.895 trillion indicating 0.26 per cent increase.
Vivian-Peace Nwinaene
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