Nigeria plans N117 bln 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.

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