The apex bank is working to tighten liquidity. By Eki Toju

The Central Bank of Nigeria (CBN), on Wednesday, revealed plans to issue N70.65 billion ($445.18 million) in treasury bills ranging from 3-month to 6-month maturities, as part of measures to tighten liquidity.

A statement from the apex bank said it will issue N30.65 billion in 91-day paper and N40 billion in 182-day bills at its regular bi-monthly debt auction on August 23.

Nigeria issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity.

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