CBN Nigeria to sell N213B treasury bills

The bank said it will sell 45.85 billion naira worth of the 91-day bills, 62 billion naira of the 182-day paper and 105 billion naira of the 1-year debt.

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Godwin Emefiele play Central Bank Of Nigeria Governor, Godwin Emefiele (REUTERS/Afolabi Sotunde/File Photo)
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Nigeria plans to offer 212.85 billion naira ($675 million) in Treasury bills maturing between 91-days and 1-year on Aug. 31, the central bank said on Friday.

The bank said it will sell 45.85 billion naira worth of the 91-day bills, 62 billion naira of the 182-day paper and 105 billion naira of the 1-year debt.

Payment for the purchase will be effected on Thursday, the bank said in a public notice.

Nigeria, Africa's top crude producer, issues treasury bills to raise cash to fund the government budget deficit, help manage banking system liquidity and curb rising inflation.

($1 = 315 naira)

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