CBN to borrow 917BN via TBs in fourth quarter

The Central Bank of Nigeria is planning to borrow N917 . 14 bn 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 N 209 .85 bn in 91 -day bills , N 197 .89 bn in 182 - day and N 509 .39 bn 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 N 140 .9 bn worth of treasury bills at an auction next week .
The central bank said it was planning to offer N 28 .12 bn of three - month debt , N 23 . 68 bn in six - month bills and N 89 bn 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 N 100 bn debut domestic sukuk it is marketing to fund infrastructure projects. "

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