Nigeria issues 130 billion naira in T-bills, yields up
Category: Money Market
Friday December 23, 2011 2:03pm
Nigeria sold 130.23 billion naira($794.42 million)short-dated treasury bills at an auction on Thursday, even as yields on the papers climbed again compared with the trend at the previous auction, the central bank said on Friday.
The regulator auctioned 37.49 billion naira of 91-day treasury bills at 14.09 percent, a slight increase from 14 percent marginal rate at the previous auction on Dec. 9, and sold 45.72 billion naira in 182-day paper at 16.20 percent compared with 15.95 percent previously.
The central bank sold 47.02 billion naira in 364-day bills at 16.75 percent against 16.41 percent marginal rate previously.
The total subscription stood at 152.70 billion naira, compared with 194.04 billion naira at the previous auction.
Africa's second biggest economy after South Africa issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity.