The Central Bank of Nigeria, (CBN) on Tuesday said it plans to raise N167.51 billion ($843.67 million) in treasury bills with maturities ranging between 3-month and 1-year on April 20.
The apex bank aims to raise N36.78 billion in the 3-month paper, N35 billion in the 6-month note and N95.73 billion in the 1-year debt, using the Dutch auction system.
The CBN issued short-dated debt to mop-up excess liquidity in the banking system to curb rising inflation, finance a portion of the budget deficit and help commercial lenders manage their liquidity.
