Nigeria plans N117bn Treasury bill auction on Nov 29

Nigeria plans to sell N117.17 billion worth of treasury bills at an auction on Nov 29, traders said on Tuesday.

The central bank plans to offer 26.14 billion naira in three-month paper, N11 billion in six-month bill and N80.03 billion in one-year note, Reuters reports. Results of the auction will be announced next day.

The bank issues treasury bills twice a month to help the government to finance its budget deficit, curb money supply growth and provide an avenue for lenders to manage liquidity.