Treasury bills worth to sell 917.14 billion naira would be offered for sale between Sept. 14 and Nov. 30, data from the Central Bank of Nigeria has revealed. The apex bank debt calendar for the fourth quarter showed this development earlier in the week.
The bank aims to auction 209.85 billion naira in 91-day bills, 197.89 billion in 182-day and 509.39 billion in 364-day debt.
Treasury bills are short-term debt instruments issued by the Federal Government through the Central Bank to provide short term funding for the government. They are sold at a discount and redeemed at par.
To buy treasury bills from the primary market, investors have to approach their banks requesting for a form.
The central bank sells treasury bills twice a month to help fund the government’s budget deficit and support commercial banks in managing liquidity.
