The Central Bank of Nigeria (CBN) recently sold ₦65.03 billion in one-year treasury bills at an interest rate of 24.77% in its latest auction. Even though they only offered ₦30.7 billion, investors wanted to buy ₦251.68 billion, which is more than twice the amount offered.
This auction saw a small drop in the interest rate, from 24.9% in the last auction to 24.77%. The sale went beyond the CBN’s original goal, showing that investors are still interested in Nigeria’s debt market.
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