CBN raises N116bn from Treasury bills

Nigeria has raised N115.85 billion from the sale of treasury bills, the Central Bank of Nigeria (CBN) has said.

The bills were sold at lower yields across all tenors compared with a previous sale last month, Reuters reports.

Total subscription for the notes stood at 253.82 billion naira at the auction, the bank said, compared with 243.39 billion naira at its May 20 auction.

The bank sold 17.85 billion naira worth of 3-month bill at 9.79 percent yield, down from 9.95 percent at the previous auction. It sold 18 billion naira worth of six month paper at 12.7 percent versus 12.75 percent at the last auction.

The bank sold 80 billion naira worth of the one-year note at 12.99 percent, compared with 13 percent last month.