Nigeria raises 168 bln naira in T.bills at low yields

CBN Gov, Emefiele

Nigeria's treasury bill yields fell around 10 basis points across the board at an auction on Wednesday after central bank received subscriptions of almost 2-1/2 times the amount it wanted to sell from pension funds and foreign investors.
The central bank raised 168.28 billion naira ($1.03 bln), issuing treasury bills ranging from 3-months to one-year. Total demand stood at 404.32 billion naira, with the one-year bill attracting 58 percent of subscriptions, it said on Thursday.
The bank issued 33.26 billion naira worth of 3-month bills at 9.9 percent, as against 10 percent the same tenor fetched at an earlier auction on June 4.
It sold 50.02 billion naira worth of 6-month notes at 10.38 percent, compared with 10.45 percent at it previous auction and auctioned 85 billion naira in one-year bills at 10.39 percent, down from 10.49 percent at its last auction.