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Nigeria sells 64.6 billion naira in T-bills

Category: Forex

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Nigeria sells 64.6 billion naira in T-bills


December 30, 2011

Nigeria sold 64.56 billion naira ($396 million) worth of 91-day and 182-day short-dated instruments on Wednesday in its last treasury bill auction for the year, at higher yields compared with the previous auction, the central bank said on Friday.

The regulator sold 21.83 billion naira of 91-day treasury bills at a 14.96 percent marginal rate, up from 14.09 percent at the Dec. 21 auction, and 42.73 billion naira in 182-day paper at 16.98 percent against 16.20 percent previously.

The total subscription stood at 71.31 billion naira.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity.



Source: Reuters (Reporting by Oludare Mayowa)

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