CBN To Issue N873bn TBs In Q3

The Central Bank of Nigeria is planning to borrow about N872.96bn ($4.4b) in a new Treasury bills issue between June 18 and September 3.
Data released by the central bank showed that it would auction N215.12bn worth of the three-month paper, N238.5bn in the six-month debt and N419.34bn worth in the one-year paper.
The total debt proposed for the third quarter is 12.3 per cent short of the N995.5bn raised in the second quarter of the year.
The CBN had said it would issue treasury bills worth N730.499bn in the second quarter of 2015.
Treasury bills are short-term debt obligation with a maturity of less than one year issued by the CBN through a competitive bidding process bi-monthly.

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