CBN raises N138bn in 91, 182-day T.bills

Central Bank of Nigeria sold N138.43 billion in 91-day and 182-day debt this week, the second such auction this year, with yields falling compared to the previous sale, the central bank said on Friday. The CBN sold N55.21 billion of 91-day treasury bills at a N14.79 per cent marginal rate, down from 15 per cent at the last auction on January 12, and N83.23 billion in 182-day paper at 16.10 per cent against 16.98 percent previously. The total subscription stood at N258.13 billion. Nigeria, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity. A total of N89.76 billion was raised in sovereign bonds on Wednesday in its first debt auction of the year with higher yields than at its previous auction in December.