LAGOS, SEPTEMBER 13, 2017 – The central bank of Nigeria plans to sell 140.9 billion naira ($433.5 million) worth of treasury bills at an auction next week, the central bank said on Wednesday.
The bank said it plans to offer 28.12 billion naira of three-month debt, 23.68 billion in six-month bills and 89 billion in one-year notes, using the Dutch auction system, on Sept 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 curb inflation.
Africa’s biggest economy has a series of debt issues lined up this year, including a 100 billion naira debut domestic sukuk it is marketing to fund infrastructure projects.