Nigeria Plans to Sell $1.57bn Treasury Bills

Nigeria Plans to Sell $1.57bn Treasury Bills

Nigeria plans to auction 254.61 billion naira ($1.57 billion) in treasury bills with maturities ranging from three months to one year at its bi-monthly debt auction on July 12, the central bank said in a public notice yesterday.

The bank said it will sell 30 billion naira in 91-day paper, 159.21 billion naira in 182-day, and 65.40 billion naira in 364-day bills in a Dutch auction.

Nigeria, Africa’s second biggest economy, sells short-dated debt instruments bi-monthly to control money supply, curb inflation and help lenders manage their liquidity.

Source: Naija.ng

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