Nigeria sells 195.5bn naira in T-bills, yields rise

LAGOS: Nigeria raised 195.56 billion naira ($1.06 billion) worth of treasury bills with maturities ranging between three months and one year at higher yields this week, the central bank said on Friday.

The bank sold 33.87 billion naira in 3-month treasury bills at 11 percent, compared with 9.99 percent at the Nov. 19 auction.

A total of 51.30 billion naira worth of the six month bill was sold at 13.84 percent, against 10.8 percent previously.

In the one year tenor bill, the bank sold 110.39 billion naira worth at 15.99 percent, compared with 12.48 percent at the last auction.