Nigeria Plans ₦119.9b Treasury Bill Auction

Nigeria plans to sell 119.94 billion naira of treasury bills at an auction on Nov 15., the central bank said on Wednesday.

The bank plans to offer 32.44 billion naira in three-month paper, 22.82 billion naira in six-month bills and 64.68 billion naira of a one-year note. Results of the auction will be announced on the same day.

The central bank issues treasury bills twice a month to help the government finance its budget deficit, curb money supply growth and provide an avenue for lenders to manage liquidity.