CBN to Sell N142 billion in T-bills on Wednesday
The Central Bank of Nigeria will sell N142 billion worth of treasury bills on Wednesday in line with its monetary tightening policy.
The bills will range in tenor from three months to one year. On offer during the Dutch Auction are N32.057 billion 91-day paper, N50 billion in 182-day bill and N60 billion in 364-day bills.
According to a statement from the apex bank, “Each bid must be in multiple of N1, 000 subject to a minimum of N10, 000. Authorised money market dealers are allowed to submit multiple bids. A bid may be authorised for money market dealers own account, non-money market dealers or interested members of the public. The bank reserves the right to vary the amount on offer in line with market realities prevailing as at the period of auction of the Nigerian Treasury Bills.”
The CBN routinely issues treasury bills to curb inflation and reduce the money supply in circulation.
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