• Sunday, May 19, 2024
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Nigeria raises N114.4bn in T. bills, yields mixed

The Federal Government sold N114.39 billion ($698 million) worth of treasury bills with maturities ranging between three months and one year at an auction this week, with yields mixed, the Central Bank of Nigeria (CBN) said on Friday.

The bank sold 21.53 billion naira worth of three-month paper at 9.95 percent, higher than 9.58 percent at a previous auction on Sept. 17. It sold 33.78 billion naira in 6-month notes at 10.10 percent, 13 basis points lower than the previous auction.

It raised 59.08 billion naira in one-year debt at 10.35 percent, the same yield the paper fetched the last time it was sold on Sept. 3.

Total demand stood at 181.44 billion naira at the auction, compared with 122 billion for the 3-month and 6-month paper sold at the Sept 17, auction.