Nigeria sold 176 bln naira treasury bills on Wednesday -traders


LAGOS, Feb 14 – Nigeria is set to sell 176 billion naira ($576 million) of treasury bills at an auction on Wednesday, traders said.

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)

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