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Nigeria plans to sell N140.9 billion ($433.5 million) worth of treasury bills at an auction next week, the Central Bank of Nigeria (CBN) said yesterday.
The bank said it plans to offer N28.12 billion of three-month debt, N23.68 billion in six-month bills and N89 billion in one-year notes, using the Dutch auction system, on September 21. Settlement will be made next day after the auction.
The central bank issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curbing inflation.
Nigeria, Africa’s biggest economy has a series of debt issues lined up this year, including a N100 billion debut domestic Sukuk it is marketing to fund infrastructure projects.
