26 December 2011
The Central Bank of Nigeria (CBN) said it sold N130.23 billion ($794.42 million) short-dated treasury bills at an auction on Thursday, even as yields on the papers climbed again compared with the trend at the previous auction.
It auctioned N37.49 billion of 91-day treasury bills at 14.09 percent, a slight increase from 14 percent marginal rate at the previous auction on December 9, and sold N45.72 billion in 182-day paper at 16.20 percent compared with 15.95 percent previously.
The central bank sold N47.02 billion in 364-day bills at 16.75 percent against 16.41 percent marginal rate previously.
The total subscription stood at N152.70 billion, compared with N194.04 billion at the previous auction.
CBN issues treasury bills regularly as part of monetary control measures to help banks manage their liquidity (Reuters).
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