Nigeria to raise 329.93bn naira in treasury bills

LAGOS: Nigeria plans to raise 329.93 billion naira in treasury bills with maturities range between 3-month and 1-year at an auction on March 2, the central bank said on Wednesday.

The bank said it would issue 57.85 billion naira in the 3-month bill, 50 billion naira in the 6-month paper and 222.08 billion naira in the 1-year debt, using the Dutch Auction System.

Nigeria issues treasury bills to help manage banking system liquidity and provide cash flow for government business.