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Nigeria plans 125 billion naira treasury bills auction



Wednesday November 30, 2011 9:54am

Nigeria plans to auction treasury bills worth 125.09 billion naira ($776.72 million) at its regular debt auction next week, the central bank said on Wednesday.

The regulator said it will sell 30.09 billion naira in 91-day paper, 45 billion naira in 182-day treasury bills and 50 billion naira in 364-day bills next Wednesday, using the Dutch auction system.

"Each bid must be in multiples of 1,000 naira subject to a minimum of 10,000," the central bank said in a public notice.

Nigeria, 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 = 161.050 naira)



Source: Reuters (Reporting by Oludare Mayowa)

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