Nigeria plans to auction 115 billion naira ($763.6 million) in 91-day, 182-day and 364-day treasury bills next week, the central bank said on Thursday.
The regulator said it would issue 20 billion naira in 91-day bills, 45 billion naira in 182-day bills and 50 billion naira in 364-day bonds next Thursday, using the Dutch Auction System.
The result of the auction would be released the following day, the bank said in a public notice. Nigeria, sub-Saharan Africa’s second-biggest economy, issues treasury bills regularly as part of monetary control measures to curb inflation and help banks manage their liquidity. At the last auction, the central bank raised less than the amount it initially advertised, reducing its first offer to raise 125 billion naira, down to 78.85 billion naira. The regulator gave no explanation for the decrease.
SOURCE:/www.vanguardngr.com
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