DMO sells N142.43bn Treasury Bills

The yield on Nigeria’s one-year treasury bills rose at an auction where a total N142.43 billion was raised, the Debt Management Office (DMO) said on Thursday, in a bid to attract investors to the longer maturity.

The yield rose to 15.25 per cent at the auction held on Wednesday from 14.3 per cent two weeks ago on the one-year note, fetching N80 billion, Reuters stated.

The yield on the 3-month paper eased to 10.75 percent from 10.98 percent at the last auction on February 3, fetching N32.43 billion.

The yield on the 6-month paper fell to 13.70 per cent from 13.9 per cent previously. The paper fetched N30 billion.
Total demand at the auction fell to N254.33 billion, from N294.54 billion from the last auction.

The currency of Africa’s biggest economy – and the continent’s top oil producer – has lost more than 20 percent in the past three months as oil prices collapsed and concern grew among investors about political stability after the six-week postponement of the February 14 elections.

[ThisDay]

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