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HomeTop NewsNigeria raises 168 bln naira in T.bills at low yields

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

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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.

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