- Yields on Nigeria’s short-dated treasury bills fell across the board at an auction on Wednesday, when the central bank sold bills worth 129.67 billion naira ($411.65 million).
- A total of 28 billion naira of 3-month paper was sold at 13.90 percent compared with 14 percent at the Sept. 21 auction, central bank data showed on Thursday.
- The bank sold 33.49 billion naira of 6-month debt at 17.09 percent after 17.27 percent previously. It also sold 68.18 billion naira of 1-year bills at 18.25 percent, lower than 18.30 percent at the previous auction.
- Total subscriptions stood at 311.40 billion naira compared with 399.71 billion at last month’s auction.
- Nigeria issues treasury bills to raise cash to fund the budget deficit, manage banking system liquidity and curb rising inflation.
- Source: Reuters
Yields on Nigerian treasury bills fall at auction
