Nigeria sold 138.43 billion naira ($861.96 million) in 91-day and 182-day debt this week, the second such auction this year, with yields falling compared to the previous sale, the central bank said on Friday. 

The regulator sold 55.21 billion naira of 91-day treasury bills at a 14.79 percent marginal rate, down from 15 percent at the last auction on Jan. 12, and 83.23 billion naira in 182-day paper at 16.10 percent against 16.98 percent previously. 

The total subscription stood at 258.13 billion naira. 

Nigeria, Africa’s second biggest economy after South Africa, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity. 

A total of 89.76 billion naira was raised in sovereign bonds by Africa’s biggest energy producer on Wednesday in its first debt auction of the year with higher yields than at its previous auction in December.

Source: Reuters/Oludare Mayowa