Nigeria’s treasury bills rate hit 13.9%

Investors submitted a bid of N1.5 trillion for one-year (364-day) treasury bills at a striking rate of 13.9% per annum at the most recent auction on August 23rd, 2023. The fact that only N283 billion from the bid was accepted, however, shows the ongoing pattern of investors greatly oversubscribing to these short-term risk-free investments. The […]