CBN to sell treasury bills worth N917.14bn - The No.1 Infotainment blog

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Thursday, 14 September 2017

CBN to sell treasury bills worth N917.14bn


The Central Bank of Nigeria (CBN) plans to sell N917.14 billion worth of treasury bills between September 14 and November 30, a debt calendar for the fourth quarter issued by the apex bank yesterday, showed.
The CBN aims to auction N209.85 billion in 91-day bills, N197.89 billion in 182-day and N509.39 billion in 364-day debt. Meanwhile, the regulator also announced yesterday that it plans to sell N140.9 billion worth of treasury bills at an auction next week.
It disclosed that it plans to offer N28.12 billion of three-month debt, N23.68 billion in six-month bills and N89 billion in one-year notes, using the Dutch auction system, on September 21. Settlement will be made next day after the auction.
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. Africa’s biggest economy has a series of debt issues lined up this year, including a N100 billion debut domestic sukuk it is marketing to fund infrastructure projects

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