Central Bank Sells N70 Billion in T-Bills, Yields Flat

The apex bank sold N70.56 billion ($434.78 million) at a sale of three-month and six-month treasury bills on Wednesday, with yields broadly unchanged from last month’s auction, the Central Bank of Nigeria (CBN) said today.
Subscription levels fell at the auction compared with last month’s sale, the regulator said.
The bank sold N20.16 billion of three-month debt at 9.95 percent, the same yield fetched at the previous auction. It also sold N50.40 billion worth of six-month paper at 10.24 percent, marginally lower than the 10.25 percent the same tenor fetched last month.
Combined demand for both papers stood at N102.65 billion, compared with N115.76 billion for three-month and six-month debt offered at the last auction.

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