Business
Investors oversubscribe as CBN concludes sale of N1trn govt securities
The Central Bank of Nigeria (CBN) has concluded a sale of government securities, issuing N1.053 trillion ($680 million) in short-term instruments, with investors oversubscribing.
The CBN said the sale, which occurred on March 1, 2024, was part of its liquidity management exercise.
The apex bank said in a statement on Monday that the N500 billion offered at the open market operations (OMO) auction was oversubscribed, selling N1.053 trillion.
According the apex bank, 79 percent of the total bids, or the equivalent of $530 million, came from foreign investors.