Nigeria sells N40bn in treasury bills at flat yields

Nigeria raised N39.72 billion ($130.57 million) at a treasury bill sale on Wednesday, with yields unchanged on the previous auction, the central bank said on its website on Friday.

It sold N13.17 billion of three-month paper at 14 percent, the same yield as on Dec. 14, and sold N26.55 billion of six-month paper at an also unchanged 17.5 percent.

The auction was sparsely subscribed with total demand of N42.68 billion.

Nigeria’s central bank issues treasury bills regularly to help lenders manage their liquidity, curb rising inflation and provide naira to help the government fund its budget.