Home MARKETS FG to sell N213bn treasury bills

FG to sell N213bn treasury bills

Federal Government 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 of Nigeria said on Friday.

The apex bank, according to Reuters report monitored by Business247 News Online, 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.

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