Nigeria sells 189 bln naira in T-bills, yields rise

LAGOS: Nigeria sold 189.27 billion naira ($1.16 billion) worth in treasury bills with maturities ranging between 3 months and one year on Wednesday, with yielding rising across the board, the central bank said on Friday.

The central bank sold 22.05 billion naira in 91-day treasury bills at 11.75 percent yield, higher than the 10.75 percent it attracted at the previous auction on Jan. 22.

50 billion naira worth was sold in the 182-day paper at 12.22 percent, against 11.94 percent previously, while 117.22 billion naira in 364-day note was sold at 13.34 percent, compared with 12.22 percent previously.

Total subscription stood at 322.95 billion naira, with one year paper attracting the highest demand of 238.32 billion naira at the auction. A total of 350.17 billion was demanded at the previous auction.