Nigeria to sell N108bn in Treasury Bills

FGNNigeria plans to sell 108.11 billion naira ($667.14 million) in 91-, 182- and 364-day treasury bills next week at its regular debt auction, the central bank said on Wednesday.

The regulator said next Wednesday it will issue 30 billion naira in the 91-day paper, 46.73 billion in the 182-day bill and 31.38 billion naira in the 364-day treasury bills, using the Dutch auction system.

“The bank reserves the right to vary the amount on offer in line with market realities prevailing as at the period of auction,” the central bank said in a public notice.

Nigeria, sub-Saharan Africa’s second biggest economy after South Africa, issues treasury bills regularly as part of measures to reduce money supply, curb inflation and help lenders manage their liquidity.

 

($1 = N162.05)      

 

 

Source: Reuters / by Oludare Mayowa; Editing by Joe Brock

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