LAGOS, JULY 8, 2016 – Federal government of Nigeria sold a total of 190 billion naira ($673.76 million) in treasury bills on Friday with maturities ranging from three months to one year, with yields broadly flat, fixed income dealers said.
The central bank sold 28 billion naira of the 3-month treasury bills at 9.98 percent compared with 9.99 percent at the June 22 auction and 42 billion naira worth of the 6-month bill at 12.24 percent against 12.30 percent previously.
The bank sold 120 billion naira worth of the one-year paper at 14.99 percent, the same rate as at the last auction.
Africa’s biggest economy issues treasury bills as part of measures to finance the government budget deficit and also to help manage liquidity in the banking system.
