Nigeria plans to sell N119.94 billion of treasury bills at an auction on Wednesday according to the Central Bank of Nigeria.
The Central Bank of Nigeria plans to offer N32.44 billion in three-month paper, N22.82 billion in six-month bills and 64.68 billion naira of a one-year note.
Results of the auction are expected to be announced on the same day.
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The Central Bank of Nigeria issues treasury bills twice a month to help the Nigerian government finance its budget deficit, curb money supply growth and provide an avenue for lenders to manage liquidity.
It raised over 193 billion naira worth of treasury bills at an auction in August.
Nigeria’s average monthly import bill has risen by over 95 per cent to N588 billion in the last 12 years.
