The Debt Managment Office (DMO), the agency in charge of government debt will issue N193 billion in treasury bills during its bi-monthly auction holding next week. N26.14 billion will be raised through 3 month treasury bills, N62 billion will be raised through bil 6 month tenure and N100 billion in bills with a one year tenure.
Finance Minister, Kemi Adeosun had recently mentioned the government’s plan to refinance $3 billion treasury bills in order to lower the government’s cost of borrowing. This is subject to approval by the National Assembly. The auction is part of the FG’s move to fund a trillion Naira deficit.