Nigeria to sell 165bn naira worth of T-bills

LAGOS: Nigeria plans to sell 164.88 billion naira ($1.05 billion) worth of treasury bills with maturities ranging from three months to one year on Jan 24, at its twice-monthly auction, the central bank said on Wednesday.

The bank said it will auction 34.88 billion naira in 91-day bills, 50 billion naira in 182-day notes and 80 billion naira in 364-day paper, using Dutch auction system.

Nigeria, Africa's top energy producer, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity and control the money supply.