Nigeria plans to auction treasury bills worth 125.09 billion naira ($776.72 million) at its regular debt auction next week, the central bank said on Wednesday. 

The regulator said it will sell 30.09 billion naira in 91-day paper, 45 billion naira in 182-day treasury bills and 50 billion naira in 364-day bills next Wednesday, using the Dutch auction system. 

“Each bid must be in multiples of 1,000 naira subject to a minimum of 10,000,” the central bank said in a public notice. 

Nigeria, Africa’s second biggest economy after South Africa, issues treasury bills regularly as part of measures to reduce money supply, curb inflation and help lenders manage their liquidity.
 

($1 = 161.050 naira)

Source: Reuters /Oludare Mayowa