CBN sells N195.96bn treasury bills next week

The Federal Government plans to sell N195.96 billion ($644.08 million) in short-dated treasury bills at an auction on January 19, the Central Bank of Nigeria (CBN) said on Tuesday.

The bank said it would sell N36.78 billion in three-month debt, N39.17 billion in six-month bills and N120 billion in one-year notes, using a Dutch auction system. Payment will be due the day after the auction.

Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb rising inflation. ($1 = 304.2500 Naira).

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Recession continues as economy shrinks by 0.52% in Q1 2017 – NBS

The National Bureau of Statistics (NBS) on Tuesday released the Gross Domestic Product report for the first quarter of this year, which showed that the economy contracted by 0.52 per cent in the period ...