FG to raise 62.4 billion Naira in treasury bills next week
Nigeria plans to sell 62.43 billion naira ($171 mln) of treasury bills at an auction next Wednesday, the Central Bank of Nigeria (CBN) said on Wednesday.
The bank plans to offer 32.43 billion naira in three-month paper and 30 billion naira of a six-month bill. Results of the auction will be announced on the same day.
The central bank issues treasury bills twice a month to help the government to finance its budget deficit, curb money supply growth and provide an avenue for lenders to manage liquidity. ($1 = 365.00 Naira)
(REUTERS)
