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Nigeria to sell 132 billion naira in treasury bills

Category: Money Market


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Nigeria to sell 132 billion naira in treasury bills

 

Friday November 4, 2011 9:11am

 

 

Nigeria plans to sell 132.06 billion naira ($838.21 million) in 91-, 182- and 364-day treasury bills next week at its regular debt auction, the central bank said.

 

The regulator said it will sell 39.27 billion naira in 91-day paper, 45 billion naira in 182-day treasury bills and 47.78 billion naira in 364-day bills next Wednesday, using the Dutch auction system.

 

"The bank reserves the right to vary the amount on offer in line with market realities prevailing as at the period of auction," the bank said late on Thursday in a public notice.

 

Nigeria, sub-Saharan Africa's second biggest economy after South Africa, issues treasury bills regularly as part of measures to reduce money supply, curb inflation and help lenders manage their liquidity. ($1 = 157.550 naira) 

 

 

Source: Reuters (Reporting by Oludare Mayowa)



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