Nigeria Sells ₦134b Treasury Bills

Nigeria was to sell 133.78 billion naira worth of treasury bills at an auction on Wednesday, traders told Reuters on Wednesday.

The central bank is offering 32.4 billion naira in three-month paper, 35 billion naira in six-month bill and 66.38 billion naira in one-year note.

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

The Debt Management Office plans to sell 100 billion naira in five and 10-year bonds on Oct 25.