Nigeria’s central bank to Issue ₦67.4B in T-bills

A board showing stocks displayed on the wall at the Nigerian Stock Exchange in Lagos
A board showing stocks displayed on the wall at the Nigerian Stock Exchange in Lagos, February 13, 2015. The naira has crashed through the key level of 200 to the dollar this week in a rout sparked by weak oil prices and escalating tension over the postponement of a presidential election in Africa’s biggest economy. REUTERS/Joe Penney (NIGERIA – Tags: BUSINESS) – RTR4PGM1

The Central Bank of Nigeria (CBN) plans to raise N67.45 billion ($338.94 million) by selling Treasury bills (T-Bills) with maturities of three and six months on Dec. 24, 2015 the CBN said on Wednesday.

CBN

The apex bank (photo: above) said it will issue N28.12 billion worth of three-month papers and N39.33 billion of six-month, using the Dutch Auction System in place.

The result of the auction is expected the following day.

MBR

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Nigeria’s central bank to Issue ₦67.4B in T-bills