Nigeria issues 172 bln naira Tbills, yields up 30 bps


LAGOS, Oct 11 (Reuters) - Nigeria sold 171.83 billion naira($1.09 bln) in treasury bills with maturities ranging from threemonths to 1-year, the central bank said on Thursday, and yieldswere up 30 basis points compared with rates at the previousauction.

The central bank sold 30.16 billion naira of 91-day paper ata yield of 13 percent, higher than the 12.7 percent offered atthe last auction.

It sold 73.49 billion naira in 182-day paper at 13.34percent, more than 30 basis point above the 13 percentpreviously, while it issued 68.18 billion naira in 1-year paperat 13.38 percent, an increase from 13.05 percent last month.

Total subscriptions stood at 356.07 billion naira, comparedwith 238.30 billion naira at the last auction, while demand forthe 1-year note was strongest, at 159.26 billion naira.

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

($1 = 157.20 naira)

(Reporting by Oludare Mayowa; Editing by Tim Cocks)

((oludare.mayowa@thomsonreuters.com)(+234 803 3964 138))