The Central Bank of Nigeria (CBN) yesterday announced plans to raise N 155.39 billion ($780 million) in Treasury bills with maturities of three months to one year on December16, 2015.
CBN said it will issue N20 billion worth of three-month paper, N25 billion of six-month paper and N110.39 billion in one-year bills, using the Dutch Auction System.
Traders predict that the bonds will be oversubscribed and yields will likely drop further from the last auction of short-dated paper at the auction next week.