CBN plans N117 bln Treasury bill auction, injects $210 mln into currency market

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    LAGOS, Nov 28 – Nigeria plans to sell 117.17 billion naira worth of treasury bills at an auction on Nov 29, traders said on Tuesday.

    The central bank plans to offer 26.14 billion naira in three-month paper, 11 billion naira in six-month bill and 80.03 billion naira in one-year note. Results of the auction will be announced next day.

    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.
    ameanwhile Nigeria’s central bank said on Tuesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.

    The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar expenses such as school fees and medical bills.

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