Nigeria plans to
auction a total of N109.27 billion ($716 million) in 91-day,182-day and
364-day debt next week, the Central bank said on Thursday.
The regulator said
it will issue N39.27 billion in 91-day bills, 40 billion in 182-day
bills and 30 billion in 364-day bonds next Thursday, using the Dutch
Auction System.The result will be released the following day.
Traders said
liquidity from budgetary allocations last month has thinned out, but
expected the offer to be oversubscribed due to improving yields after
the central bank raised its key interest rate to 6.50 percent from 6.25
percent a week ago.
Nigeria,sub-Saharan Africa’s second-biggest economy, issues treasury
bills regularly as part of monetary control measures to curb inflation
and help banks manage their liquidity.
