FG to raise N100.8bn in T-bills

 

The federal government will raise N100.88 billion in treasury bills with maturities between three months and one year at an auction on Sept. 23, the Central Bank of Nigeria (CBN) said on Wednesday.

The bank said that it will issue new 91-day paper worth 31.19 billion naira, 10.61 billion naira in 182-day bills, and 59.08 billion naira in 1-year debt, using the Dutch Auction System.

Results of the auction are expected to be released the following day.

Nigeria issue treasury bills twice-monthly to fund the government budget deficit and manage liquidity in the banking system.