Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


CBN sells N105bn treasury bills

28 September 2012, 15:04

Abuja -  The Central Bank of Nigeria (CBN) Thursday  sold N104.69 billion treasury bills with maturities ranging from three months to one year.

Data from the Financial Market Dealers Association showed that the central bank sold N21,838.51 billion of 91-day treasury bills at a yield of 12.7 per cent, higher than the 12 per cent it offered at the previous auction.

The apex bank also sold N49,051.14 billion in 182-day paper at 13 per cent, compared with 12.6 per cent previously, just as it issued N33,783.25 billion naira in 364-day paper at 13.05 percent.  It showed that yields were marginally up.
Total subscriptions stood at N278 billion. While total subscription for the 91-day bill was N50.024 billion, 182-day at N84.495 billion, subscription for 364-day bill stood at N143.480 billion.

While the fixed income securities has continued to attract a lot of investors, the planned addition of Nigeria on the JP Morgan Government Bond Index-Emerging Markets (GBI-EM) – the biggest underwriter of emerging market debt is expected to attract $1.5 billion to the country.
JP Morgan’s London-based sub-Saharan Africa economist, Giulia Pellegrini  said the  FGN’s most-traded bonds maturing in March 2014, October 2019 and January 2022 will join the indexes between October 1 and December 3 this year.

JPMorgan first disclosed the plans in August after Governor, Central Bank of Nigeria, Sanusi Lamido Sanusi's decision last year to attract more funds by removing restrictions on foreign investors holding debt of Africa's biggest oil producer.

Meanwhile, the central bank in a circular dated September 26, 2012 has asked all authourised dealers to forward their returns on forex transactions in respect of their naira denominated cards between 2010 and 2011.
The circular titled: “Request for Source of Foreign Exchange for Transactions on Naira Cards for the Periods of 2010 to 2011,” addressed to dealers was posted on the CBN’s website yesterday.

The circular signed by the Director, Trade and Exchange Department, CBN,  Mr. Batari Musa, said: “All authourised dealers are required to urgently forward hard copies of their returns on forex transactions in respect of naira denominated cards, showings the source of funds on a month by month basis for years 2010 and 2011. In addition, a soft copy of the same information in hard copies should be forwarded.”

“In both cases, the information should be received in Trade and Exchange Department, CBN Headquarters, Abuja on or before close of business on Friday September 28, 2012. Please ensure compliance accordingly, failing which appropriate sanction shall be imposed.”



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...