Nigeria raises N183b in Treasury bills | Independent Newspapers Limited
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Nigeria raises N183b in Treasury bills

Posted: Apr 10, 2015 at 8:00 am   /   by   /   comments (0)

By Sola Alabadan / News Editor, Sunday


Nigeria raised N183.64 billion ($923 million) in Treasury bills with yields decreasing compared with the previous sale last month, the Central Bank disclosed on Thursday.

The Treasury bill yields fell in line with declining yields on fixed assets on renewed investor interest in the local debt market after a peaceful presidential election in Africa’s biggest economy and most populous country.

The Central Bank said it raised N20.15 billion in the 3-month debt at 10.5 percent at the auction held on Wednesday compared with 10.69 percent at the March 25 auction.

The bank also sold a total of N33.49 billion worth of the 6-month paper at 14.1 percent, lower than 14.55 percent at the previous auction.

The apex bank raised N130 billion of the 1-year note at 14.15 percent, down from 14.85 percent at the last auction.

Investors, mostly domestic banks and pension funds, submitted bids worth a total of N433.13 billion against N297.06 billion at last month’s auction.