CBN To Raise N917b By Treasury Bills

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Nigerian Central Bank, Abuja, Nigeria.

The Central Bank of Nigeria (CBN) plans to borrow N917.14bn worth of Treasury bills between September 14 and November 30, a CBN debt calendar for the fourth quarter has shown. The apex bank is aiming to auction N209.85bn in 91-day bills, N197.89bn in 182-day and N509.39bn in 364-day debt, according to Reuters.

The CBN sells Treasury bills twice a month to help fund the government’s budget deficit and support commercial banks in managing liquidity. Meanwhile, the CBN said on Wednesday it was planning to sell N140.9bn worth of treasury bills at an auction next week.

The bank plans to offer N28.12bn of three-month debt, N23.68bn in six-month bills and N89bn in one-year notes, using the Dutch auction system, on September 21. Settlement will be made next day after the auction.