Shell Energy Entrepreneurs banner Yudala banner
CBN sells treasuries above inflation to attract dollar inflows flows

By News Express on 21/07/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 512

•CBN Governor Godwin Emefiele.
•CBN Governor Godwin Emefiele.

Nigeria’s central bank offered six-and 12-month treasuries at yields higher than the country’s inflation rate on Friday to lure yield-hungry investors and attract dollar inflows, traders said.

Severe dollar shortages have been a hallmark of Nigeria’s recession, now in its second year. The downturn was brought on mainly by lower prices for oil, the government’s largest source of income, mostly paid for in hard currency.

The central bank sold a total of 204.96 billion naira ($650.67 mln) in bills at the auction on Wednesday. It paid 17.39 percent for the six-month bill and 18.54 percent for the one-year paper. The bank’s three-month bill fetched 13.42 percent.

Annual inflation eased to 16.1 percent in June.

Most analysts expect the central bank to keep its key interest rate on hold next Tuesday at 14 percent.

The bank sold 145.96 billion naira of the 12-month bill, 26.60 billion naira of six-month paper and 32.40 billion naira of three-month paper.

Nigeria’s central bank issues treasury bills twice a month to finance the government’s budget deficit, help manage commercial lenders’ liquidity and curb rising inflation. (Reuters)

Source News Express

Posted 21/07/2017 6:13:25 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
Otudeko bags Business Person of the Year Award...

RIGHTSVIEW: Rochas, Imo State and governance

Army constitutes committee to probe human rights abuse...

CBN injects $195m into Forex market •Announces retail...

Obaseki emerges Oshiomhole’s likely successor •How he swept...

PDP candidate vows to contest Gov. Amosun’s victory...

FG to Kano Govt.: ‘Let the industrial estates...

Kaduna’ll experience Kano’s development under El-Rufai, says Bantex...

Nigeria needs N12 trillion to feed population, says...

Nigeria’s crude exports suffer setback, 18 cargoes unsold...

Coup in MASSOB: 4 reported dead in bid...

Anambra donates 80 hectares of land to FG...

 

Latest News Military clears another batch of 95 surrendered Boko Haram fighters NNPC raises alarm over fake recruitment advert Senate institutes committee on Constitution amendment, postpones National Security Summit Enugu Revenue Board targets N30b IGR to fund 2018 budget Kaduna Govt. bans child fostering, adoption INEC seeks CJN’s intervention over conflicting court judgments Dickson tasks Bayelsa Oil Company on repositioning for optimal performance Umeh takes oath of office as Senator, calls for restructuring Ibrahim Sani sues Nigerian Army over alleged illegal retirement Alex Ekwueme to be laid to rest Feb. 2 NiMet predicts dust haze, mist/fog, cloudy skies for Friday Court upholds proscription of IPOB

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (315,138 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (304,806 views) Shameless Genevieve Nnaji exposes breasts in public (244,527 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,297 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (189,990 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,252 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,475 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (139,645 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (135,973 views) Lagos plane crash: Journalist releases victims’ names (124,418 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (121,578 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (118,902 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,853) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,744) Interviews (139) Live Commentary (28) Love Matters (100) News (31,988) Opinion (865) Pidgin (10) Politics (4,356) Religion (666) Sports (1,406) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Thierry Henry in Lagos Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!