• Thursday, February 29, 2024
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FG to raise ₦62.4bn in Treasury bills

The Federal Government plans to raise ₦62.43 billion ($315 million) in Treasury bills of 3-month and 6-month tenor on Aug. 20, the central bank said on Wednesday.

The bank said in a statement it will raise ₦32.43 billion worth in the 3-month paper and ₦30 billion in the 6-month debt, using the Dutch Auction System.

Nigeria issues Treasury bills twice a month to borrow funds from the banking system to fund the government’s budget deficit and help manage liquidity in the economy.