This move is part of CBN's efforts to attract liquidity and strengthen the naira, which has recently been falling due to a forex supply shortage.
The auction offered N312.9 billion worth of 364-day bills but received bids totaling N1.5 trillion.
The CBN eventually allotted N1.3 trillion to successful subscribers at a rate of 21.49%, with bids ranging from 17.00% to 27.00%.
The funds raised will be used to support the naira in the forex market and bring the exchange rate below N1,500/$.
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