The
Federal Government has sold N242.38bn ($1.22bn) worth of three months
to one year Treasury bills at higher yields than in its previous
auction, the Central Bank of Nigeria has said.
The CBN raised N50bn more than it initially planned, increasing the amount of six-month paper auctioned from N30bn to N80bn.
It sold N45.17bn of three-month paper at 4.95 per cent, up from 4.29 per cent at a sale on January 20.
The bank sold N80bn of six-month debt at
7.97 per cent against 7.59 per cent, while it sold N117.21bn of
one-year paper at 9.49 per cent compared with 9.32 per cent.
The total subscription stood at N400.82bn, compared with N288.98bn. It stated that the three-month bills
closed at 4.59 per cent on the secondary market on Wednesday, the
six-month traded at 7.87 per cent, while the one year paper closed at
8.45 per cent.
The Federal Government had late last
month sold N195.95bn ($975m) in Treasury bills with maturities from
three months to one year in its second auction of the year, at higher
yields than previously.
The bank sold N36.78bn of three-month paper at 4.29 per cent, up from four per cent at a sale on January 6, according to Reuters.
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