Nigeria sells 124.7 bln naira T-bills, yields drop

Nigeria sold 124.69 billion naira ($771.60 million) in treasury bills on Wednesday, with maturities ranging between three months and one year with yields lower across the board, central bank data showed on Friday.

CBN Gov, Sanusi

  The bank sold 31.83 billion naira worth of 91 day paper at 10.85 percent, compared with 11 percent at the previous auction on Sept. 19.
   The regulator sold 33.78 billion naira in the 182-day note at 11.69 percent, 61 basis points lower than the 12.3 percent at the last auction, while a total of 59.08 billion naira of the 364-day debt was sold at 11.74 percent, against 12.59 percent at the Sept. 4 auction.
   Subscription stood at 315.48 billion naira, compared with 119 billion naira at the previous auction.
   Yields on Nigeria's local debt have fallen in the last two weeks as offshore investors renew interest in the market over signs the US Federal reserve will continue its monetary stimulus.