Nigeria to raise 1.13 trln naira Treasury bills in Q2

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Nigerian naira notes are seen in this picture illustration March 15, 2016. REUTERS/Afolabi Sotunde/Illustration/File Photo - RTSFNNR

LAGOS, March 7  – Nigeria plans to sell 1.13 trillion naira ($3.70 bln) worth of treasury bills between March 16 and 1 June, a central bank debt calendar showed.

The bank aims to auction 243 billion naira in 91-day bills, 198 billion in 182-day and 689 billion in 364-day debt.

The central bank sells treasury bills twice a month to help fund the government’s budget deficit and support commercial banks in managing liquidity.

Nigeria expects a 2.36 trillion naira budget deficit for 2017, with half of it funded through domestic borrowings. ($1 = 305.50 naira)

 

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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