Nigeria selling 176 bln naira treasury bills on Wednesday – Traders

Nigeria is set to sell 176 billion naira ($576 million) of treasury bills at an auction on Wednesday, traders said.

The central bank is offering 6 billion naira of three-month paper, 30 billion naira of six-month bills and 140 billion naira of one-year notes.

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.

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