Nigeria selling 134 bln naira treasury bills on Wednesday -traders

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LAGOS, Oct 18  – Nigeria was to sell 133.78 billion naira worth of treasury bills at an auction on Wednesday, traders said 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. ($1 = 314.5000 naira)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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