Save Austin Fair Yudala banner
Foreigners rush to buy Nigeria’s debt

By News Express on 21/09/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 633


Nigeria’s central bank on Wednesday raised more money from an auction of treasury bills than originally planned after it received subscriptions for almost four times the amount of debt initially on offer, traders said.

The bank raised 215.88 billion naira ($686 million) at the auction, 75 billion naira more than planned, with the one-year paper accounting for most of the debt. Total subscription at the auction stood at 559 billion naira.

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

The bank raised 22.78 billion naira in three month bills at 13.15 percent, 24.74 billion naira in six month bills at 16.8 percent and 168.36 billion naira in one-year bills at 17 percent.

Traders said foreign investors sold dollars last week in anticipation of the auction, boosting demand for the bills and also liquidity on the currency market.

However currency market liquidity waned on Wednesday as some international investors were waiting to see where they yields would end up, they said.

The central bank issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation. (Reuters)

 

Source News Express

Posted 21/09/2017 2:48:24 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

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!

 

You may also like...
Boko Haram: More than half of Borno schools...

South-East stakeholders chart way forward on economy

I challenge men as the only lady mechanic...

Man to spend 2 years in jail for...

Leverage culture, tourism for economic growth, Minister charges...

2 in police net over murder of US-based...

Fidel Castro writes off Obama’s historic trip to...

Expect superior performance from me, Gov. Emmanuel tells...

Medical and health workers protest imposition of CMD...

Coalition demands sack of Education Minister •Withdraws suit...

Zinox boss wants free internet access for all...

Ex-militants change tactics in quest for Jonathan’s re-election...

 

Latest News 15,000 innocent civilians killed under Buhari’s watch — Intersociety •Slams atrocity perpetrators and their agents Lagos seals Chisco, Ifex, GUO, other transporters’ offices Fake JAMB question papers in circulation Super Eagles lose 3 points in World Cup qualifier Boko Haram kills 4 in Borno IDP Camp Bayelsa Assembly moves to outlaw open grazing FG hands over Marina Presidential Lodge to Lagos Union protests killing of another Nigerian in South Africa Kano to construct N2.2bn classroom blocks Appeal Court dismisses 15 charges against saraki, upholds 3 for trial National Hospital Abuja inducted into FOI Hall of Shame World Bank sets up $4.5B climate change fund

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (300,874 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (285,712 views) Shameless Genevieve Nnaji exposes breasts in public (230,438 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (193,372 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (183,431 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (170,042 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (147,171 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (132,549 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (130,570 views) Lagos plane crash: Journalist releases victims’ names (119,030 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (115,491 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (112,098 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,816) Business Verdict (28) Columnists (776) Complaints & Requests (94) Enterprise & Opportunities (195) Entertainment (419) Features (522) Global Business Monitor (193) International (1,687) Interviews (138) Live Commentary (28) Love Matters (92) News (30,966) Opinion (845) Pidgin (9) Politics (4,209) Religion (653) Sports (1,381) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

MOBO Awards

 

APO Group Partner

 

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!

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!