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INVESTORS OVERSUBSCRIBE CBN N1TRN OMO BILLS
The Central Bank of Nigeria, CBN, has successfully concluded the sale of government securities following the issuance of N1.053 trillion (680 million dollars) in short-term instruments.
A statement issued on Sunday night by CBN’s Acting Director, Corporate Communications Department, Hakama Sidi, stated that the sale is part of its liquidity management exercise.
Mrs Sidi said that the apex bank’s N500 billion-offer at the Open Market Operations, OMO, auction was oversubscribed after selling N1.053 trillion, with 79 per cent of the total bids, or the equivalent of 530 million dollars coming from foreign investors.
