Nigeria auctions 81 billion naira in treasury bills
Friday March 30, 2012
Nigeria sold 80.91 billion naira ($513 million) in treasury bills this week at a regular debt auction, with yields on the 91-day paper falling but returns on 182-day bills rising from the previous week, the central bank said on Friday.
The central bank sold 21.83 billion naira of the 91-day treasury bills at a 14.19 percent marginal rate, compared with a 14.30 percent yield at the previous auction.
The regulator auctioned 59.08 billion naira in the 182-day bill at 15.05 percent, a touch higher than the 15 percent previously.
Total demand stood at 148 billion naira compared with 326.57 billion naira at the last auction.
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.