FG to raise N120.5 bn in Treasury bills next week

FELIX OLOYEDE

The Federal Government will be selling N120.52 billion worth of 3-month, 6-month and 1-year Treasury bills on June 24.

The Central Bank of Nigeria (CBN) yesterday in a statement it would putting on sale N31.19 billion worth of the 3-month paper, 39.33 billion naira of the 6-month bill and 50 billion naira in the 1-year debt next week through the Dutch auction System.

The apex bank yesterday auctioned N143.64 billion worth of Treasury bills of tenors ranging between 3-month and 1-year.

In the same vein, the CBN auctioned N80 billion worth of Treasury bonds with maturities between 5-year and 20-year.

The results of both auctions will be published the Thursday. Hallmark recalled that the CBN had earlier in the week that it will sell N872.96 billion in a new Treasury bills issue between June 18 to September 3, 2015. The regulator stated that it will auction N215.12 billion worth of the 3-month paper, N238.5 billion in the 6-month debt
and 419.34 billion worth in the 1-year paper. The amount the government is planning to borrow in the third quarter of 2015 is 12.3 per cent lower than the N995.5 billion raised in the second quarter of the year. The Federal and state Governments presently has a debt burden of N12.06 trillion with their external debt stock standing at N 1.86 trillion as at March 2015, the Debt Management Office data shows. The government at the centre owing its domestic creditors N8.51 trillion, while the state governments have a domestic debt of N 1.69 trillion.