CBN sells N195.96bn treasury bills next week


The Federal Government plans to sell N195.96 billion ($644.08 million) in short-dated treasury bills at an auction on January 19, the Central Bank of Nigeria (CBN) said on Tuesday.

The bank said it would sell N36.78 billion in three-month debt, N39.17 billion in six-month bills and N120 billion in one-year notes, using a Dutch auction system. Payment will be due the day after the auction.

Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb rising inflation. ($1 = 304.2500 Naira).