Nigeria sells 120 bln naira in T-bills at lower yields

The result of the auction showed that the bank sold 32.43 billion naira worth of three-month paper at 5.34 percent compared with 5.82 percent at the Nov. 4 auction.

Treasury bills

Nigeria sold 119.92 billion naira ($600 million) in Treasury bills with maturities from three months to a year at an auction on Wednesday, with yields further slashed compared with returns at the previous auctions, the central bank said on Thursday.

It also sold 22.82 billion naira worth of six-month debt at 7.2 percent against 7.98 percent previously, and 64.67 billion naira of one-year paper sold at 8.5 percent, down from 9.48 percent, the auction results showed.

Total demand for the paper also dropped to 301.04 billion naira compared with 535.86 billion demanded by investors at the last auction.

Trader said the drop in yields was a reflection of trends in the secondary market, where yields have fallen to 1.94 percent, 6.16 percent and 6.93 percent for three-month, six-month and one-year debt each.


Eyewitness? Submit your stories now via social or:


Recommended articles

Cholera kills 653 people in Nigeria in 7 months

Abia Gov warns of plot to kidnap politicians, govt officials

Nigeria receives 4 million COVID-19 vaccine doses donated by United States

Do not preach division of Nigeria – NYSC DG tells Corps members

Taraba Fulani herders pledge to flush out criminals amongst them within 5 months

2,471 people dead as FRSC records 5,320 crashes in Nigeria in 6 months

Nigeria exits maritime organisation over electoral irregularities

DSS fails to produce 4 out of 12 detained Igboho’s aides in court

What Buhari, FCT must know about the poor street lighting in Abuja [Pulse Contributor's Opinion]