Nigeria to raise 917 bln naira trreasury bill in Q4 -central bank

Nigeria plans to raise a total of 917.13 billion naira worth of treasury bills in the fourth quarter of the year, the central bank said on Wednesday.
In its latest treasury bill issuance calendar for the fourth quarter of the year, the bank said the amount to be issued are role over of matured debt notes previously auctioned by the regulator on behalf of the government.
The regulator said it will raise 209.85 billion naira worth in the three months bill to replace the maturing bills of same amount between September 14 and November 30, this year.
A total of 197.89 billion naira worth of the six months paper will be issued within the same period to refinance the same amount of bill maturing, while 509.39 billion naira of the one year paper will be issued to replace same amount maturing for the period.
Nigeria, Africa's biggest economy 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.
Nigeria has a series of debt issues lined up this year, including a 100 billion naira debut domestic Sukuk it is marketing to fund infrastructure projects.
The west African country plans to overshot its budget by around 2.36 billion naira this year and intends to borrow around half of the amount from the domestic market to plug the gap.