Nigeria sells 40bn naira in treasury bills at flat yields

LAGOS: Nigeria raised 39.72 billion naira ($130.57 million) at a treasury bill sale on Wednesday, with yields unchanged on the previous auction, the central bank said on its website on Friday.

It sold 13.17 billion naira of three-month paper at 14 percent, the same yield as on Dec. 14, and sold 26.55 billion naira of six-month paper at an also unchanged 17.5 percent.

The auction was sparsely subscribed with total demand of 42.68 billion naira.

Nigeria's central bank issues treasury bills regularly to help lenders manage their liquidity, curb rising inflation and provide naira to help the government fund its budget.