CBN to borrow N917bn via TBs in fourth quarter

The Central Bank of Nigeria is planning to borrow N 917. 14bn 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 .12bn 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 .