The Central Bank of Nigeria (CBN) will sell N50.4billion Treasury bills on July 8. The bills will have three-month and six-month maturities. The bills are made of N25.40bn worth of the 91-day paper and N25bn of the 182-day debt, using the Dutch Auction System. The results of the auction are expected to be published on Thursday, July 9.

The CBN had also said it would borrow about N872.96bn ($4.4b) in new Treasury bills issues between June 18 and September 3. Data released by the central bank had shown 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

Similarly, the Federal Government would borrow between N180bn and N240bn through the sale of government bonds in the third quarter of 2015. According to the Debt Management Office (DMO), the amount will be borrowed through the issuance of five and 20-year bonds. 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.

By Dike Onwuamaeze

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