Nigeria Sells ₦195Bn Treasury Bills at Higher Rate

Nigeria sold 195.95 billion naira ($975 million) in Treasury bills with maturities from three months to one year in its second auction of the year on Wednesday, at higher yields than previously, the central bank said on Thursday.

The bank sold 36.78 billion naira of three-month paper at 4.29 percent, up from 4 percent at a sale on Jan. 6.

It also sold 39.17 billion naira of six-month debt at 7.59 percent against 6.99 percent, and 120 billion naira of one-year paper at 9.32 percent compared with 8.05 percent.

Demand totalled 288.98 billion naira compared with 311.5 billion last time.