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Nigeria to raise 62.4 bln naira in Treasury bills
August 12, 2015 / 10:29 AM / 2 years ago

Nigeria to raise 62.4 bln naira in Treasury bills

LAGOS, Aug 12 (Reuters) - Nigeria plans to raise 62.43 billion naira ($315 million) in Treasury bills of 3-month and 6-month tenor on Aug. 20, the central bank said on Wednesday.

The bank said in a statement it will raise 32.43 billion naira worth in the 3-month paper and 30 billion naira in the 6-month debt, using the Dutch Auction System.

Nigeria issues Treasury bills twice a month to borrow funds from the banking system to fund the government’s budget deficit and help manage liquidity in the economy.

$1 = 198.0000 naira Reporting by Oludare Mayowa; Editing by James Macharia

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