Treasury Bills Nigeria raises N111bn in low yield sales

The bills were sold at lower yields across all tenors compared with the previous sale which took place on May 6.

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CBN Governor, Godwin Emefiele play

CBN Governor, Godwin Emefiele

(Bella Naija)
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Nigeria has raised N110.99 billion ($558 million) from the sale of Treasury bills, the Central Bank of Nigeria (CBN) said on Friday, May 22, 2015.

The bills were sold at lower yields across all tenors compared with the previous sale which took place on May 6.

Investors submitted a total of N243.39 billion in bids at the auction held on Wednesday, compared with 329.97 billion bids at the previous auction, Reuters reports.

The yield on the 3-month bill fell to 9.95 percent from 10.09 percent at the previous auction, the central bank said, adding that it sold 32.43 billion naira of the 3-month paper.

The bank sold a total of 22.82 billion naira of the six month paper at 12.75 percent against 12.89 percent yield at the last auction. It also sold 55.68 billion worth of the one-year paper at 13 percent, compared with 13.39 percent last month.

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