Nigeria sold 95.56 billion naira ($589.1 million) in three-month and six-month treasury bills, the central bank said on Friday, as strong demand pushed yields to their lowest level in seven weeks.

It sold 30.16 billion naira of 91-day paper at 13.75 percent at Wednesday’s twice monthly auction, down from 14.09 percent last time, While the yield on 65.40 billion of the 182-day paper fell to 14.88 percent from 15.31 percent.

Total subscriptions were at 290.22 billion naira. Dealers said the pattern of demand suggested participation by offshore investors.

Nigeria, Africa’s second biggest economy after South Africa, issues treasury bills regularly to reduce the money supply, curb inflation and help lenders manage their liquidity.

($1 = 162.20 naira)

Source: Reuters (Reporting by Oludare Mayowa; Editing by Joe Brock, John Stonestreet)