Nigeria sells N183 in T-bills at lower yields

The Federal Government sold N182.85 billion ($1.13 billion) of treasury bills with maturities ranging between three months and one year, at yields lower than at its previous auction last month, the Debt Management Office (DMO) said on Friday.

The DMO announced results of the Wednesday auction on Friday and said investors bought N27.85 billion worth of the 3-month bill at 9.79 percent, lower than the 9.9 percent fetched at the previous auction on Aug. 20.

It sold N50 billion in 6-month bills at 10.17 percent, down from 10.20 percent it got last month and auctioned N105 billion in one-year notes at 10.36 percent as against 10.31 percent at an earlier sale.