CBN to raise N1.2trn in T-bills in 215 Q1

The Central Bank of Nigeria (CBN) said on Friday it plans to raise about N1.22 trillion (about $6.61 billion) in treasury bills in the first quarter of next year.

The bank in an issuance calendar said it plans to issue 230.88 billion naira worth of 3-month treasury bills, 291.53 billion of 6-month paper and 700.56 billion in one year notes between Dec. 18 to March 5, next year.

Nigeria, Africa’s top economy, issues treasury bills twice a month to fund its budget and manage liqudity in the banking system.