CBN to Raise ₦62.4b in Treasury Bills

Nigeria plans to sell 62.43 billion naira ($171 mln) of treasury bills at an auction next Wednesday, the central bank said on Wednesday.

The bank plans to offer 32.43 billion naira in three-month paper and 30 billion naira of a six-month bill. Results of the auction will be announced on the same day, Reuters reports.

The central bank issues treasury bills twice a month to help the government to finance its budget deficit, curb money supply growth and provide an avenue for lenders to manage liquidity.

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