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Nigeria’s treasury bills attract lower rates
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Nigeria’s treasury bills attract lower rates

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Image result for Nigerian treasury billsCentral bank of Nigeria issued treasury bills worth N31.94bn last week to tighten liquidity in the money market.

Market operators said the treasury bills were in two classes of 349- day and 160- day bills.Interest rates ranged between 17.98 percent and 18.59 percent.

The cost of borrowing in the inter bank market dropped from 8.5 percent to about 5 percent.

Matured treasury bills repayment boosted central banks account by N287.39bn to close the volume at N320.35bn.

Traders expect rates to remain flat in the coming weeks.

 

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