Nigeria Raises 119.9 Billion Naira At Treasury Invoice Public Sale

Nigeria raised 119.9 billion Naira at a treasury invoice public sale on Wednesday after allocating nearly ninety percentage of the debt to the longer maturities, merchants said.

The central financial institution sold 107.93 billion Naira of one-year debt at a price of 15.60 percent, 43.26 billion Naira greater than it had in the beginning offered to sell in that maturity.

Investors bid as excessive as 18.23 percent for the one-year paper. However, the authorities has been imparting debt at decrease yields to music declining inflation, which fell for the ninth month in October to 15.91 percent.

The bank then bought 6 billion Naira every in three- and six- months maturities at thirteen percentage and 15.25 percentage respectively.

Total subscription stood at 152.89 billion Naira.