Yields on Nigeria’s Treasury Bills Rise Across Board

Yields on Nigerian short-dated treasury bills rose significantly at an auction on Wednesday where the central bank sold a total of N167.51 billion worth of debt with maturities ranging between three months and one year.

The central bank said it sold N36.78 billion of 3-months paper at 7.88 per cent yield, about 1.78 percentage points higher than at the last auction on April 6. A total of N35 billion worth of the 6-month treasury bill was sold at 8.99 percent against 8.69 percent at the previous auction, while N95.73 billion of the 1-year treasury bill was sold at 10.24 percent compared with 9.48 percent previously. Reuters revealed that Investors demanded a total of N253.19 billion abillioNN445.86 billion subscription at the last auction.