Nigeria raises over $580m in treasury bills

Nigeria raised N115.85 billion (about $582 million) in treasury bills at lower yields in contrast to previous sale in May.

According to a statement by the Central Bank of Nigeria (CBN) on Wednesday in Abuja, total subscription for the notes stood at N253.82 billion at the auction, in contrast to N243.39 billion at its May 20 auction.
The bank sold N17.85 billion worth of 3-month bill at 9.79 percent yield, down from 9.95 percent at the previous auction.

It sold N18 billion worth of six month paper at 12.7 percent as against 12.75 percent at the last auction.
The apex bank sold N80 billion worth of the one-year note at 12.99 percent, compared with 13 percent last month.