Treasury Bills Yield Drops Again and Is Now Looking Unattractive

Nigeria sold 182.85 billion naira ($1.13 billion) of treasury bills with maturities ranging between three months and one year, at yields lower than at its previous auction last month, the Debt Management Office (DMO) said on Friday.

The DMO announced results of the Wednesday auction on Friday and said investors bought 27.85 billion naira worth of the 3-month bill at 9.79 percent, lower than the 9.9 percent fetched at the previous auction on Aug. 20.

It sold 50 billion naira in 6-month bills at 10.17 percent, down from 10.20 percent it got last month and auctioned 105 billion naira in one-year notes at 10.36 percent as against 10.31 percent at an earlier sale

Reuters