The Central Bank of Nigeria (CBN) on Friday announced plans to raise aboutN826.31 billion ($5.26 billion) worth in treasury bills ranging between three months and one year in the first quarter of the year.
It plans to auction N331.29 billion in 91-day, 182-day and 364-day paper in January, 354.93 billion naira in the same range of bills in February and 140.09 billion of same range in March at its twice-monthly auction.Offshore investors’ interest in local debt has surged since the JP Morgan included it in its emerging market government bond index last October. Barclays will add Nigerian debt to its index from March 2013.
Nigeria issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity and control the money supply.
The west African power house announced plans on Wednesday to raise between N210-360 billion in sovereign bonds ranging between 5 and 20 years in the first quarter of the year.
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