Nigeria to hold rates at 12 percent as new CBN governor eyes inflation.

The Central Bank of Nigeria (CBN) plan to sell  N134.88 billion ($832.49 million) in treasury bills with maturities ranging between 3-months and one year on Wednesday, the regulator said on Friday.

The bank said it will issue N34.88 billion in the 3-month treasury bills, N48 billion in the 6-month paper and N52 billion in the one-year debt notes.

Nigeria issues treasury bills as regularly as twice monthly to manage money supply in the economy and curb inflation.

The auction result is expected to be released the following day.


Culled from Business Day Online.