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CBN to raise 1.2 trl naira in T-bills in Q1

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The central bank said on Friday it plans to raise about 1.22 trillion naira ($6.61 billion) in treasury bills in the first quarter of next year.

The bank in an issuance calendar said it plans to issue 230.88 billion naira worth of 3-month treasury bills, 291.53 billion of 6-month paper and 700.56 billion in one year notes between Dec. 18 to March 5, next year.

Nigeria, Africa’s top economy, issues treasury bills twice a month to fund its budget and manage liqudity in the banking system.

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