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Nigeria to raise 167.5 bln naira in treasury bills

HomeUncategorizedNigeria to raise 167.5 bln naira in treasury bills
12
Apr
Nigeria to raise 167.5 bln naira in treasury bills

LAGOS, April 12 (Reuters) – Nigeria plans to raise 167.51 billion naira ($843.67 million) in treasury bills with maturities ranging between 3-month and 1-year on April 20, the central bank said on Tuesday.

The bank aims to raise 36.78 billion naira in the 3-month paper, 35 billion naira in the 6-month note and 95.73 billion naira in the 1-year debt, using the Dutch auction system.

Nigeria issues short-dated debt to mop-up excess liquidity in the banking system to curb rising inflation, finance a portion of the budget deficit and help commercial lenders manage their liquidity.

($1 = 198.55 naira) (Reporting by Oludare Mayowa; Editing by Alison Williams)

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