FG raises N171.3bn in T-bills, yields mixed

Nigeria sold N171.26 billion ($1.03 bln) worth of treasury bills with maturities ranging between three months and one year at an auction this week, with mixed yields, the Debt Management Office (DMO) said on Thursday.

The debt office said N59.88 billion worth of three-month paper was sold at 9.80 percent, 15 basis points lower than at the previous auction on Sept. 24.

A total of 45 billion naira was sold in six-month bills at 10.20 percent against 10.10 percent at the last auction, while 66.38 billion naira worth was sold in one-year notes at 11.25 percent compared with 10.35 percent previously.

Subscriptions totalled 201.92 billion naira, against 181.14 billion naira at the last auction.