LAGOS: Nigeria sold 79.45 billion nairas ($282.74 million) of three-month to one-year treasury bills on Wednesday at higher yields than at its previous auction, the central bank said on Friday.
The bank said it sold 18.12 billion naira of three-month paper at a yield of 9.99 percent, up from 8 percent at a sale on June 15.
It raised 11.33 billion naira of six-month debt at 12.3 percent against 9.35 percent, while a total of 50 billion naira of one-year paper was sold at 14.99 percent compared with 11.99 percent previously.
Total subscriptions fell to 111.66 billion naira from 312.26 billion naira at the previous auction.
Africa's biggest economy issues treasury bills to banks and non-financial institutions to help ease government cash flow, manage banking system liquidity and curb inflation.
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