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CBN plans N140 bln treasury bill sale next week

Central Bank of Nigeria (CBN) is planning to sell N140.9 billion worth of treasury bills at an auction next week.
The bank said it plans to offer N28.12 billion of three-month debt, 23.68 billion in six-month bills and 89 billion in one-year notes, using the Dutch auction system, on Sept 21. Settlement will be made next day after the auction.
The central bank issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.
Africa’s biggest economy has a series of debt issues lined up this year, including a N100 billion debut domestic sukuk it is marketing to fund infrastructure projects.


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