FG sells $1.3bn in T-bills at higher yields

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 N254.96 billion ($1.3 billion) of the debt against bids worth N318.58 billion.

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.

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The debt office said a total of 222.08 billion naira of the 1-year debt note attracted 15.89 percent against 15.25 percent at the previous auction.