Nigeria to raise 129.6bn naira in treasury bills next week

LAGOS: Nigeria plans to raise 129.67 billion naira ($403.01 million) in short-dated treasury bills at an auction next Wednesday, the central bank said on Friday.

The bank said it would raise 28 billion naira in three-month paper, 33.49 billion naira in six-month bills and 68.18 billion naira in one-year bills.

Payment for the purchases will be made on Thursday, the bank said in a public notice.

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