(Ecofin Agency) - The Central Bank of Nigeria (CBN) plans to sell N235billion ($765.99 million) short-dated treasury bills at an auction on April 6, 2017.

These bills include N35 billion in three-months bill, N33.49 billion in six-month bill and N166.40 billion in one-year bill.

CBN aims to sell these bills using a Dutch auction system. Payment is expected a day after the auction.

Nigeria's apex bank issues treasury bills two times a month to finance budget deficit, help manage commercial lenders' liquidity and control rising inflation.

This month, CBN in two different auctions sold the one-year T-bills at yields that exceed the inflation rate. This is to encourage investors to purchase more of the bills.

Anita Fatunji