Nigeria plans to raise N918.44bn through the sales of treasury bills at its twice-monthly auction in the fourth quarter of 2020.
The Central Bank of Nigeria in its treasury bills issue programme for the fourth quarter said it would raise N709.84bn in the one-year tenor treasury bills, N113.35bn worth of the six-month debt instruments and N95.25bn of the three-month debt in the fourth quarter of 2020.
A breakdown of the debt issuance programme announced by the CBN showed that N286.79bn would be issued across the three-tenor treasury bill in September, comprising N6.4bn of three-month, N22.38bn of the six-month and N258.01bn of the one-year paper.
The bank will issue N353.2bn across the three-tenor bill in October, consisting of N8.68bn of the three-month paper, N31.71bn of the six-month note and N272.81bn of the one-year paper.
The bank will sell N278.39bn worth of treasury bills in November, also comprising N40.15bn in the three-month paper, N59.24bn of the six-month debt and N179bn of the one-year paper.
Nigeria sells treasury bills twice monthly as part of measures to raise cashback on behalf of the Debt Management Office for the federal government’s budget spending ahead of revenue accretion.
