Nigeria sells N107.6 billion in treasury bills

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Nigeria sold
N107.64 billion in 91-, 182- and 364-day treasury bills last Thursday
as part of measures to control money supply in sub-Saharan Africa’s
second-biggest economy. The central bank said on Friday it sold N50
billion in the 364-day instruments at a 9.10 percent marginal rate, N40
billion in 182-day bills at 8.27 percent and N17.64 billion in 91-day
bills at 6.85 percent. The yields on the paper were lower than at the
previous auction this month, where 364-day paper was offered at 9.59
percent, 182-day for 9.0 percent and 91-day at 7.09 percent. Total
subscription stood at 364.6 billion naira, but the regulator stuck to
its initial offer.

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