Friday, 30 May 2014

FG of Nigeria to raise N138bn treasury bills

Federal Government has announced plans to issue N137.9bn ($848.00m) worth in treasury bills ranging from 3-month to 1-year maturities at its regular bi-monthly debt auction on June 4, the Central Bank of Nigeria has said.

A breakdown showed that the apex bank would issue N22.9bn worth in three-month treasury bills, N30bn of six-month paper and N85bn of the one-year debt, reports National Mirror.

The auction results are expected on June 5.

The federal government issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity.



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