Government to raise 120.5 bln naira in Treasury bills next week

Pulse Staff 09:54 - 17 June 2015

A trader changes dollars with naira at a currency exchange store in Lagos February 12, 2015. REUTERS/Joe Penney

The bank said in a statement it would sell 31.19 billion naira worth of the 3-month paper, 39.33 billion naira of the 6-month bill and 50 billion naira in the 1-year debt next week, using the Dutch auction System.

Nigeria plans to sell 120.52 billion naira ($606 million) of 3-month, 6-month and 1-year Treasury bills on June 24, the central bank said on Wednesday.

At an auction later on Wednesday, the bank is offering 143.64 billion worth of Treasury bills of tenors ranging between 3-month and 1-year. In addition, a total of 80 billion naira worth of Treasury bonds with maturities between 5-year and 20-year are also on offer at the same auction.

The results of both auctions will be published the Thursday.

($1 = 198.9000 naira)