LAGOS: Nigeria raised 172.85 billion naira in Treasury bills with maturities of 3 months to one year at mixed returns with strong local investor demand for the note at Wednesday's auction, results released by the central bank showed on Thursday.
Total bids for the debts stood at 283.58 billion naira compared with 63.55 billion naira at the previous auction on Aug. 19, boosted by increased naira liquidity in the money market from budgetary allocations for the month of July.
The bank sold 17.85 billion naira of the 3-month debt at 10 percent, unchanged from the Aug. 19 auction.
It auctioned 50 billion naira of six-month bills at 13.50 percent, up from 13 percent previously, while selling 105 billion naira of the 1-year debt at 14.69 percent against 14.71 percent at the Aug. 5 auction when one year paper was last issued.
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