The Central Bank on Tuesday auctioned treasury bills to willing investors in another round of debt accumulation for the Apex Bank. Funds have been flowing into the risk free market since the government decided to aggressively borrow at foreign investor enticing yields.
With inflation rate topping 16.5%, the government is now borrowing short term bills at rates close to 19% per annum. Latest Treasury Bills results confirms a similar trend.
What this means?
For those who were lucky to buy the treasury bills, it means that for lending government money you will be getting between 14.9% and 17.48% per annum depending on how much you invested.
To put it into better perspective, if you invested N1million for 182 days (6 months), you will be getting about N87,400. Want to know more about Treasury Bills? Tweet at us @nairametrics.