November 28, 2017 / 10:35 AM / 16 days ago

Nigeria plans 117 bln naira Treasury bill auction on Nov 29

LAGOS, Nov 28 (Reuters) - Nigeria plans to sell 117.17 billion naira 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, 11 billion naira in six-month bill and 80.03 billion naira in one-year note. 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. (Reporting by Chijioke Ohuocha Editing by Jeremy Gaunt)

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