CBN Plans Sale of 133 Billion Naira Treasury Bill Next Week

By June 15, 2017 Investment News

THE Central Bank of Nigeria plans to sell N133.24 billion ($424 million) worth of treasury bills at an auction next week, the apex bank said yesterday.

The bank said it plans to offer N28.12 billion worth of three-month debt, N55.12 billion in the six-month bill and N50 billion in one-year note, using the Dutch auction system on June 21.

The settlement will be made next day after the auction.

On Friday, the monetary body said it would issue N1.24 trillion worth of the treasury notes in the third quarter, starting from June 15 to August 31.

The CBN issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.

Source: The Nation