CBN Set To Sell N135bn Traesury Bills

As part of its tight monetary stance, the Central Bank of Nigeria will on Wednesday sell N134.88bn in treasury bills.

The CBN sells treasury bills bi-monthly to manage the volume of money supply in the economy.

The maturities of the treasury bills on offer will range between three months and one year.

A breakdown shows that the bank will issue N34.88 billion in 3-month bills, N48 billion in 6-month bill and N52 billion in one-year bills.

The treasury bills market commenced last week flat but subsequently fed off the Wednesday’s bond auction.

The short end of the curve experienced sell-offs driving rates higher as institutional investors looked to position ahead of this week’s primary market auction.

SOURCE

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