CBN To Raise N219bn In Treasury Bills | Independent Newspapers Limited
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CBN To Raise N219bn In Treasury Bills

Posted: Mar 31, 2016 at 5:51 am   /   by   /   comments (0)

THE Central Bank of Nigeria has disclosed plans to raise N218.89 billion ($1.10 billion) in short-dated treasury bills on April 7.

The apex bank on Wednesday said it will sell N55.40 billion of three-month and N33.49 billion of six-month bills and N130 billion of one-year debt, using the Dutch auction system.

The results of the auction are expected to be released on Thursday. According to the central bank’s issues calendar for treasury bills, the same amount of bills on offer will also be due for repayment on the day of the auction.

Nigeria issues treasury bills as part of a borrowing plan to finance part of the government budget deficit, help manage liquidity in the banking system and curb inflationary trends.