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Central BankTo Sell N 125 Billion Worth of Bills Next Week, Bills Outperforming Inflation

By on December 1, 2011

The Central Bank of Nigeria is gearing to sell N 125 Billion worth of treasury bills as part of its regular process of monetary supply control measures.

The sale will take place next week Wednesday via the Dutch auction process.

Of the aggregate amount, N 30.09 billion will be sold in 91 day paper, N 45 Billion in 182 day treasury bills, and N 50 Billion in 364 day bills.

Nigerian treasury bills have continued to increase in yield, now out-performing inflation. Treasury Bills due on October 4th 2012 attracted a yield of 17.35%, about 700 basis points above inflation statistics released by NBS last month.

Treasury Bills due on September 6th 2012, are second in the league tables, yielding 17.02%, also north 700 points above inflation.

Treasury Bills continue to be the investment destination choice for money managers as the returns thee securities offer are superior to other primary asset classes the Nigerian economy has to offer currently.