FG sells N195.5bn in T-bills, yields rise

The Central Bank of Nigeria (CBN) on Friday raised N195.56 billion ($1.06 billion) worth of treasury bills with maturities ranging between three months and one year at higher yields this week.

The bank sold N33.87 billion in 3-month treasury bills at 11 percent, compared with 9.99 percent at the November 19 auction.

A total of N51.30 billion worth of the six month bill was sold at 13.84 percent, against 10.8 percent previously.

In the one year tenor bill, the bank sold N110.39 billion worth at 15.99 percent, compared with 12.48 percent at the last auction.