Nigeria, Jan. 22 -- Investors flooded the Central Bank of Nigeria's Treasury Bills auction on Wednesday, submitting bids worth N3.44 trillion, the strongest demand seen in over a year as market players moved to lock in high yields.



The CBN offered N1.15 trillion across the 91 day, 182 day and 364 day tenors. This included N150 billion for 91 day bills, N200 billion for 182 day bills and N800 billion for the one year paper. Demand was strongest for the 364 day bills, which reportedly attracted bids far above the amount offered.

The News Chronicle understands that although subscriptions were heavy, the CBN sold N1.06 trillion across the three maturities.

Yields stayed attractive. The 91 day bill cleared at 16.50 percent, while the 18...