Treasury Bills yields drop as FG trades N167bn

Nigeria’s Treasury bill yields fell across the board at an auction on Wednesday, compared with a previous sale on March 4, the Central Bank of Nigeria, CBN said Thursday.
The CBN said it sold a total of around 167 billion naira ($840 million) of debt, less than the 447.81 billion naira worth of bids submitted by investors. Bids at the last auction stood at 318.58 billion naira.
Reuters reports that it sold 33.87 billion naira worth of the 91-day note at 10.79 percent, broadly flat against the 10.8 percent fetched at the previous auction.
The 182-day bond worth 50.27 billion naira was sold at 14.7 percent, against 14.85 percent previously, the Central Bank added.
The bank said a total of 83 billion naira worth of the 1-year note attracted 15.35 percent compared with 15.89 percent at the previous auction. ($1 = 199 naira).