DMO plans 54b naira treasury auction, repays some bills

DMO plans to raise 53.96 billion naira at a treasury auction on Wednesday after repaying the same amount of bills, with the aim of lowering its borrowing costs, traders said.

The debt office has said it would repay some treasury obligations in phases as they mature. It plans to repay 482 billion naira of treasury bills in the second quarter and half the amount it wants to raise between March and May.