FG to Raise ₦1.13tr Treasury Bills in Q2

Nigeria plans to sell 1.13 trillion naira ($3.70 bln) worth of treasury bills between March 16 and 1 June, a central bank debt calendar showed.

The bank aims to auction 243 billion naira in 91-day bills, 198 billion in 182-day and 689 billion in 364-day debt.

The central bank sells treasury bills twice a month to help fund the government's budget deficit and support commercial banks in managing liquidity.

Nigeria expects a 2.36 trillion naira budget deficit for 2017, with half of it funded through domestic borrowings.