CBN To Borrow N917 Billion Worth Of Treasury Bills In Fourth Quarter

The Central Bank of Nigeria is planning to borrow N917.14 billion worth of treasury bills between September 14 and November 30, a CBN debt calendar for the fourth quarter has shown. According to reports, the central bank is aiming to auction N209.85bn in 91-day bills, N197.89bn in 182-day and N509.39bn in 364-day debt.

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 central bank said it was planning 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. The economy has a series of debt issues lined up this year, including a N100bn debut domestic sukuk it is marketing to fund infrastructure projects.

Photo Credit: Getty

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