LAGOS, Feb 14 – Nigeria is set to sell 176 billion naira ($576 million) of treasury bills at an auction on Wednesday, traders said.
Thank you for reading this post, don't forget to subscribe!The central bank is offering 6 billion naira of three-month paper, 30 billion naira of six-month bills and 140 billion naira of one-year notes.
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. ($1 = 305.4000 naira) (Reporting by Chijioke Ohuocha; Editing by Alison Williams)