Saturday 27th May, 2017
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FG sells N173bn treasury bills with rates flat

FG sells N173bn treasury bills with rates flat

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. 

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