LAGOS: 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