Nigeria to Raise N100bn in Treasury Bills Next Week

Nigeria is planning to raise 100.88 billion naira in treasury bills with maturities between three months and one year at an auction on Sept. 23, the central bank said on Wednesday.

The bank said it will issue new 91-day paper worth 31.19 billion naira, 10.61 billion naira in 182-day bills, and 59.08 billion naira in 1-year debt, using the Dutch Auction System.

Results of the auction are expected to be released the following day.

Nigeria issue treasury bills twice-monthly to fund the government budget deficit and manage liquidity in the banking system.

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