Nigeria plans to raise around 242 billion naira ($772 million) in short-dated treasury bills at an auction on Feb. 1, the central bank said on Tuesday.

The bank said it would raise 45.17 billion naira in three-month debt, 80 billion in six-month bills and 117.22 billion in one-year notes, using a Dutch auction system. Payment will be due the day after the auction.

Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb rising inflation.

http://newstop.com.ng/fg-raise-242-billion-naira-treasury-bills/