Nigeria sells 55 bln naira in T-bills, yields dip

CBN acting Governor, Alade

Nigeria sold 55.31 billion naira ($335.72 million) worth of three-month and six-month treasury bills on Wednesday, at lower yields than at the previous auction, the central bank said.
The bank said it sold 21.53 billion naira in 91-day treasury bills at 11.90 percent, slightly lower than a 11.95 percent yield attracted at the previous auction last week.
The regulator sold a total of 33.78 billion naira in the 182-day paper at 13.18 percent, against 13.24 percent previously.
Total subscription stood at 381.58 billion naira, compared with 314.83 billion naira at the previous auction, while demand was heavier on the one-year paper, which attracted a total of 205.01 billion naira at the auction.
The central bank's Monetary Policy Committee kept rates on hold on Tuesday for the 15th time in a row, but hiked cash reserves on private sector deposits by 300 basis points to 15 percent, aiming to reassure markets it would keep monetary policy tight.