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Nigeria to sell 83bn naira in treasury bills next week

LAGOS: Nigeria plans to sell 83.
Published December 13, 2016 Updated December 13, 2016 07:29pm
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By Fawad Maqsood
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imageLAGOS: Nigeria plans to sell 83.24 billion naira ($264.25 million) in short-dated treasury bills at an auction on Dec. 22, the central bank said on Tuesday.

The bank said it will sell 28.12 billion naira in three-month papers and 55.12 billion naira in six-month bills, using the Dutch Auction system.

Payment would be made the day after the auction.

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

Copyright Reuters, 2016

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