The CBN announced that its one year Treasury Bill Yield fell to its lowest in about 16 months as off shore demand swarmed bids.?The Central Bank of Nigeria (CBN) sold N117 billion ($744.5m) of 364-day bills Wednesday February 6, at a yield of 10.6%, it said in an e-mailed statement, the lowest since September 29, 2011.
The CBN also sold N42 billion of 91-day bills at a yield of 10.32% and N60 billion of 182-day securities at 10.5%. Bids for one-year debt amounted to N342 billion, the highest on?record, out of a total of N546.4 billion, it said.
JP Morgan added Nigeria to its Government Bond Index last year and Barclays is set to include Nigeria in their’s as well. It is thought this has largely contributed to the huge appetite for Nigerian Bonds.