Nigeria sells $1.3 billion in treasury bills

Nigeria’s Treasury bill yields rose across the board at an auction on Wednesday compared with a previous sale on Feb. 18, the Debt Management Office (DMO) said on Thursday. The DMO said it sold a total of 254.96 billion naira ($1.3 billion) of the debt against bids worth 318.58 billion naira. The 91-day debt note worth 17.85 billion naira was sold at 10.8 percent compared with 10.75 percent fetched at the previous auction, the debt office said. The 182-day paper worth 15.03 billion naira was sold at 14.85 percent versus 13.70 percent previously, it added. The debt office said a total of 222.08 billion Anaira of the 1-year debt note attracted 15.89 percent against 15.25 percent at the previous auction. ($1 = 198.80 naira)