The Central Bank of Nigeria has released the results of its Treasury bills auctioned on October 30, 2019.

It said the range of bid rates for the 91-day tenor was 9.2500 to 11.0000 while that of the 182-day tenor was 10.3000 to 15.0000; and 10.5000 to 14.0000 for the 364-day tenors.

The successful bid rates were between 9.2500 and 9.4999 for the 91-day tenor; 10.3000 and 10.4500 for the 182-day tenor; and 10.5000 and 11.5000 for the 364-day tenor, it said in a statement obtained via email on Sunday.

According to the apex bank, the marginal rates stood at 9.4999, 10.45 and 11.5 for the 91-day, 182-day and 364-day tenors, respectively, while the true yield stood at 9.7304, 11.0244 and 12.9897, respectively.

The report showed that the CBN recorded a N433.06bn (327 per cent) oversubscription in the Treasury-bills auction.

It offered N132.56bn worth of Treasury-bills in a Dutch auction across the 91day, 182-day and 364-day tenors.

A total of N28.02bn was offered on the 91-day tenor while N10.62bn was offered on the 182-day tenor.

The 364-day tenor offered N93.92bn for subscription.

The CBN had requested all money market dealers to submit bids through the CBN s4 web interface between 9am and 11am on Wednesday, October 30.

It stated that it reserved the right to reject any bid, adding that allotment letters and payment for successful bids were issued last Thursday.

The 91-day tenor was oversubscribed by 159 per cent as N72.44bn total subscription was received, while only N28.02bn was allotted.

On the 182-day tenor, an oversubscription of 367 per cent was recorded as only N10.62bn was allotted from a total subscription of N49.68bn.