Nigeria Raises N136 billion In Treasury Bills

Nigeria sold N136.24 billion ($684.67 million) in Treasury bills with maturities from three months to one year at its first auction of the year on Wednesday, at higher yields than previously, according to reuters.

The Central Bank on Thursday said that it sold 55.4 billion naira of three-month paper at 4 percent, up from 3.62 percent at a sale on December 23.

It also sold 25 billion naira of six-month debt at 6.99 percent against 6.19 percent, and 55.84 billion naira of one-year paper at 8.05 percent compared with 7.45 percent.

Total demand stood at 311.5 billion naira compared with 226.97 billion last time.