Nigeria to raise N129.6 bn in treasury bills next week

Nigeria plans to raise N129.67 billion  ($403.01 million) in short-dated treasury bills at an auction next Wednesday, the central bank said on Friday.

The bank said it would raise N28 billion in three-month paper, N33.49 billion in six-month bills and N68.18 billion  in one-year bills.

Payment for the purchases will be made on Thursday, the bank said in a public notice.

Nigeria issues treasury bills to raise cash to fund the budget deficit, manage banking system liquidity and curb rising inflation.