CBN to Sell ₦195.96b in Treasury Bills

Nigeria plans to sell 195.96 billion naira ($644.08 million) in short-dated treasury bills at an auction on Jan. 19, the central bank said on Tuesday.

The bank said it would sell 36.78 billion naira in three-month debt, 39.17 billion naira in six-month bills and 120 billion naira in one-year notes, using a Dutch auction system. Payment will be due the day after the auction.

Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb rising inflation.