The federal government raised about N381.219 billion through treasury bills (NT-Bills) issued on January 10 and 24.
This represents a 67.8 per cent decline from the N1.18 trillion raised in December 2023.
On January 10, 2024, N149.4 billion was raised with the 91-day bills accounting for N2.78 billion, 182-day bills accounting for N94.33 billion, and the 364-day bills accounting for N52.29 billion.
For the 91-day bills issued on January 10, the Central Bank of Nigeria (CBN) offered N2.78 billion but the total subscription received was N38.87 billion with bids ranging between 2.44 per cent and 9 per cent. Only bids at 2.44 per cent were successful.
The 182-day and 364-day NT-bills were auctioned with respective yield rates of 4.22 per cent and 8.399 per cent. Bids for the 182-day bills varied between 4.22 per cent and 16 per cent. Bids for the 364-day bills ranged from 6.43 per cent to 19.90 per cent, with a total subscription of N10 trillion received.
On January 24, 2024, N231.8 billion was raised with the 91-day bills accounting for N7.85 billion, the 182-day bills accounting for N6.44 billion, and the 365-day bills accounting for N217.53 billion.
For the 91-day bills issued on January 24, the CBN offered about N7.85 billion, with a total subscription of N12.74 billion received. Bids ranged between 2.5 per cent and 9 per cent, with the CBN setting the yield rate at 5 per cent.
The CBN offered N6.44 billion of the 182-day bills, however, a subscription of N34.84 billion was received. The bids ranged between 4 per cent and 14.33 per cent, albeit the yield rate was set at 7.15 per cent.
The CBN also offered N217.53 billion for the 364-day bills but a subscription of N1.04 trillion was received with bids varying between 3.23 per cent and 19.01 per cent. However, the yield rate was set at 11.54 per cent.