Friday, 8 May 2015

CBN Raises N150.60 billion in Treasury Bills

Godwin Emefiele
The Central Bank of Nigeria (CBN) raised N150.60 billion ($756.78 million) in Treasury Bills, with yields mixed compared with the previous sale last month, the apex bank said yesterday. The yield on the three-month bill was stable at 10.09 per cent, the same as at the April 22, auction. The CBN sold N45.17 billion in the three-month paper.

A total of N23.43 billion was sold in the six months paper at 12.89 per cent, higher than the 12.80 percent yield at the last auction, while N82 billion worth of the one-year paper was sold at 13.39 per cent against 12.99 per cent last month.
Investors – mostly domestic banks and pension funds – submitted bids worth a total of N329.97 billion against N669.66 billion at last month’s auction.
Meanwhile, Stanbic IBTC Holdings to raise N24 billion in a rights issue once shareholders approve the transaction, the lender said. Stanbic IBTC, majority owned by South Africa’s Standard Bank , said it would seek approval at a general meeting on June 3.
The bank’s first quarter pretax profit fell 46 per cent to N4.81 billion ($24 million) versus the same period last year. Stanbic did not give a reason for the decline in profit but said in a statement that revenue rose to N33.73 billion for the period to end-March from N30.22 billion a year ago.



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