CBN Sells N191billion T-Bills at Primary Market

The Central Bank of Nigeria, CBN, auctioned treasury bills worth N190.8 billion via the primary market on Wednesday, May 2.

Treasury bills are short-term debt instruments issued by the Federal Government through the Central Bank of Nigeria, CBN, to provide short term funding for the government. They are sold at a discount and redeemed at par.

The 91-day bill worth N6.1 billion was offered to investors at the market, while N6.7 billion worth of the 182-day instrument was expected be sold to traders.

In addition, the central bank planned to sell N178 billion worth of the 364-day bill to market players at the exercise on Wednesday.

However, the rates were expected to slump on Wednesday as in the previous exercise.

 

 

 

 

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