CBN To Borrow N917bn Via TBs In Fourth Quarter
The Central Bank of Nigeria is planning 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 central 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 a Reuters report.
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.
Settlement will be made next day after the auction.
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.