5 days ago
Nigeria Retains High Yields on One-Year Bills to Lure Investors
Nigeria's central bank retained high double-digit yields on one-year papers favored by offshore investors in an auction on Tuesday to sustain dollar inflows and shore up the naira.
The Abuja-based Central Bank of Nigeria sold the so called OMO bills at yields of 23.7%, about 782 basis points higher than comparable-tenored notes issued on behalf of the government last month. The yields on the government-backed treasury bills have been declining since the beginning of the year.
