Nigeria will sell short-dated debt note with tenor ranging between 3-month to 1-year worth 823.43 billion naira in the first three months of the year, the central bank said on Wednesday.
In its debt issuance calendar for the first quarter, the central bank said the debt instrument consists of Treasury Bills to be roll-over and fresh issues.
The bank would sell 51.46 billion naira worth of the 3-month paper, 164.92 billion naira in the 6-month paper and 607.05 billion naira of the 1-year debt note
They include the 91-day bills worth N51.46 billion, 182-day bills of N164.92 billion and 364-days bill worth N607.05 billion.
They include the 91-day bills worth N51.46 billion, 182-day bills of N164.92 billion and 364-days bill worth N607.05 billion.
In the period, about 985.93 billion naira across the three maturities will also be due for repayment, part of which would be roll-over in the new auction session.
The maturing paper consists of 59.02 billion naira in 3-month note, 248.84 billion naira of the 6-month paper and 678.06 billion naira of the 1-year debt note respectively.
Nigeria issue short-dated debt note as part of its measure to manage liquidity in the economy to curb pressure on the local currency. The bank issues the debt note to help commercial lenders manage their liquidity, while also deploy the debt instrument as one of its monetary policy tools to curb inflation.
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