LAGOS, Aug. 26 (Xinhua) -- Nigeria apex bank, The Central Bank of Nigeria (CBN), is to auction 40 billion naira (about 339 million U.S. dollars) in 91-day and 182-day treasury bills on Wednesday to control money supply, reported the Channel TV news Tuesday.

    The CBN said it will auction 5 billion naira worth of 91-day treasury bills and 35 billion naira in the 182-day instrument, using the Dutch auction system.

    Nigeria uses the weekly auctions to control money supply, curtail inflationary growth and help retail banks manage their liquidity.

    There will also be an auctioning of a 50 billion naira worth of3-year and 10-year sovereign bonds at par on Wednesday, to restructure its short-term domestic debt.

    The Debt Management Office (DMO) will raise 30 billion naira from 3-year bonds and 20 billion naira from 10-year paper.

    Both papers are a re-opening of previously issued instrument.

    Nigeria issues long-tenor bonds every month as part of measures to restructure its short-dated debt instruments, manage liquidity and help rein in inflation.