Nigeria to raise 125bn naira in treasury bills

LAGOS: Nigeria plans to issue 124.69 billion naira ($768 million) in treasury bills with maturities ranging between three months and one year at its regular debt auction on Sept. 25, the central bank said on Wednesday.

The regulator will sell 31.83 billion naira in 91-day paper, 33.78 billion naira in 182-day debt notes and 59.08 billion naira in the one year paper next week, it said in a notice.

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