FG Raises N213bn In Treasury Bills

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The federal government on Thursday raised N212.85 billion ($654.92 million) in an auction of treasury bills on Wednesday, with yields little changed from previous sales, data from the Debt Management Office (DMO) has revealed.

The DMO raised N45.85 billion of three-month paper at 14.38 per cent, down from 14.99 per cent in mid-August; N62 billion of six-month bills at 17.50 per cent, up from 17.48 per cent, and N105 billion of one-year paper at 18.42 per cent, down from 18.50 per cent.

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.


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