Nigeria to raise 952 bln naira through Treasury bill sales by end of year – Reuters

CBN

LAGOS, Sept 7 (Reuters) – Nigeria will raise about 952.04 billion naira ($3.02 billion) with new issues of Treasury bills from Sept. 15 to Dec. 1, the central bank said on Wednesday in its latest issuance calendar.

The bank said it would sell 264.47 billion naira worth of three-month bills, 204.88 billion of six-month bills and 482.69 billion of one-year bills.

Nigeria is expected to borrow around 900 billion naira from the local market to bridge its budget deficit, which is estimated at 2.2 trillion naira in this year’s budget. ($1 = 315 naira) (Reporting by Oludare Mayowa, editing by Larry King)

http://af.reuters.com/article/nigeriaNews/idAFL8N1BJ31R