Central bank sells Treasury Bills at higher rates

Nigeria central bank sold 34.4 billion naira worth of treasury bills on Wednesday at higher rates to try to lure foreign investors, hours after it was announced that the president told the bank to ban access to dollars for food imports.

The bank auctioned the longer tenor one-year Treasury bill at 12% from 11.2% at its last sale. Demand for the auction stood at 146.6 billion naira.  Reuters

Pix: CBN Governor, Godwin Emefiele