Federal government raised N127.07 billion ($638.86 million) selling treasury bills with maturities of between three months and one year at lower yields compared with the previous auction, the Central Bank of Nigeria, CBN, said yesterday.
The bank sold N25.40 billion of the 91-day paper at a yield of 10 percent, down from 10.50 percent at the previous sale last month.
It sold N33.49 billion worth of six-month paper at a yield of 12.20 percent, down from 13.39 percent on September 2, and paid 12.50 percent to sell N68.18 billion of one-year debt less than the 14.69 percent yield at the previous auction.
Yields were higher than in the secondary market, the three-month paper was trading at 9.13 percent, six-month debt at 11.69 percent and the one-year paper at 13 percent.

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