LAGOS, March 8 Nigeria sold 190 billion naira in
treasury bills with maturities ranging from three months to one
year, about 40 billion naira more than it had initially offered
at this week's auction, central bank said on Friday.
Yields on the 91-day and 182-day notes were broadly
unchanged while the returns on 364-day paper edged up marginally
compared with the previous auction on Feb. 20.
The bank sold 32.97 billion naira in 91-day paper at 9.2
percent, same as at the previous auction on Feb. 20, 40 billion
naira in the 182-day bill at 9.44 percent, compared with 9.45
percent at the previous auction.
A total of 117.12 billion naira of the 364-day bond was sold
at 9.98 percent, higher than the 9.45 percent at the previous
auction on Feb. 20.
Nigeria had originally planned to sell 50 billion naira in
182-day notes and 67.12 billion naira in 364-day paper at the
Total demand stood at 266.11 billion naira compared with
529.91 billion naira sold at the previous auction, with demand
for the one year paper the heaviest.
Offshore investors' interest in local debt has surged since
its inclusion by JP Morgan in its emerging market government
bond index last October. Barclays will add Nigerian debt to its
index from this month.
Nigeria, top Africa's energy producer, issues treasury bills
regularly to reduce money supply, curb inflation and help
lenders manage their liquidity.
($1 = 157.70 naira)
(Reporting by Oludare Mayowa; Editing by Tim Cocks)