Nigeria raises 111 bln naira in T-bills, yields lower

Nigeria sold 110.99 billion naira ($558 million) in Treasury bills at lower yields across all tenors compared with the previous sale on May 6, the central bank said on Friday.
Investors submitted a total of 243.39 billion naira in bids at the auction held on Wednesday, compared with 329.97 billion bids at the previous auction.
The yield on the 3-month bill fell to 9.95 percent from 10.09 percent at the previous auction, the central bank said, adding that it sold 32.43 billion naira of the 3-month paper.
The bank sold a total of 22.82 billion naira of the six month paper at 12.75 percent against 12.89 percent yield at the last auction. It also sold 55.68 billion worth of the one-year paper at 13 percent, compared with 13.39 percent last month.