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FG sells N100bn in T-bills

News » Business

Nigeria sold a total of 100.62 billion naira ($619.0 million) in treasury bills with 91-day and 182-day maturities at its bi-monthly auction, with mixed yields compared with the previous auction, the central bank said on Friday.

The bank on Thursday sold 37.49 billion naira worth of the 91-day paper at a return of 14.05 percent, lower than the 14.10 percent at the previous auction, while it issued 63.13 billion naira worth in 182-day bills at 15.31 percent compared with 14.94 percent at the previous auction.

Total subscriptions stood at 152.69 billion naira, but the central bank stuck to its initial amount offered.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly to reduce the money supply, curb inflation and help lenders manage their liquidity.

Article credit: Businessday Newspaper

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Updated 6 Years ago

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