Nigeria to raise 917 billion naira from T-bills in Q2
Category: Nigerian Economy
Thursday March 29, 2012
Nigeria's central bank said it plans to raise 917.76 billion naira ($5.82 billion) from treasury bills in the second quarter of the year, the bank said on Thursday.
The regulator said it would auction 182.12 billion naira worth in 91-, 182- and 364-day paper in March, 324.25 billion naira worth in April, 273.37 billion naira in May and 137.97 billion naira worth of the same tenor in June.
More offshore investors have been investing in Africa's second biggest economy's local debt since the beginning of the year because of attractive yields.
Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity.