Nigeria to raise N70.55 billion in T.bills on July 9

The Central Bank of Nigeria will raise N70.55 billion ($433.97 million) by issuing 3- and 6-months treasury bills at an auction on July 9, the regulator said on Friday.

The bank said it will raise N20.15 billion in the 3-month bill and N50.40 billion in the 6-month note, using the reverse, Dutch auction system. The auction results are

expected the next day.

Nigeria raised N134.5 billion ($827.18 million) in treasury bills with tenor ranging between 3-months to one year with mixed yields at its last auction on June 25.

It has said it will raise N936.92 billion ($5.76 billion) from treasury bills in the coming three months.

BusinessDay