The treasury bills used to be very robust and rewarding for investors, but now, that has changed. The Central Bank of Nigeria reduced the return on treasury bills investing by more than 80 percent and people are not happy about it.
The Nigeria stock exchange has been losing money for a long time and treasury bills are the only hope for investors. T-Bills used to return up to 14 % annually for investors but that has bee scrapped by the Nigeria government
According to people familiar with the mater, The bank lowered the 91-day rate to 2.49 percent from 3.00 percent, the rate for the 182-day bill was reduced to 3.78 percent from 4.00 percent, while the rate for the 364-day bill was cut down to 5.3 percent from 5.70 percent.
