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Home Economy

CBN to sell 83 bln naira in treasury bills next week

metro by metro
December 13, 2016
in Economy
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CBN 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.

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

 

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