LAGOS, SEPTEMBER 1, 2016 – FG raised 212.85 billion naira ($654.92 million) in an auction of treasury bills on Wednesday, with yields little changed from previous sales, data from the Debt Management Office showed on Thursday.The debt office raised 45.85 billion naira of three-month paper at 14.38 percent, down from 14.99 percent in mid-August; 62 billion naira of six-month bills at 17.50 percent, up from 17.48 percent, and 105 billion of one-year paper at 18.42 percent, down from 18.50 percent.
Higher subscriptions on the one-year sale suggested some offshore investors participated, market players said.
On Monday, offshore investors traded about $270 million through the interbank forex market to fund investments in naira debt.
