The Federal Government sold N172.85 billion ($550 million) at its first treasury bill sale of the year on Wednesday with yields unchanged from the previous auction, held on December 21, fixed income traders saidon Thursday.
The Central Bank of Nigeria (CBN) sold N115.85 billion of one-year debt at a rate of 18.68 percent, the same as the previous auction, traders said.
They said the central bank also sold N35 billion of 91-day paper at 14 percent and 22 billion naira of six-month bills at 17.5 percent, unchanged from the previous auction.
Subscription at the auction came to N194.12 billion, well up from 42.68 billion naira at the previous auction.
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.