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CBN to Auction N134.36b Treasury Bills Thursday

By Dipo Olowookere

This Thursday, October 5, 2017, the Central Bank of Nigeria (CBN) will sell N134.36 billion worth of treasury bills at the primary market.

According to the apex bank’s calendar for the sale of the treasury bills, it would auction 91-day bills worth N28.69 billion, 182-day bills worth N33.49 billion and 364-day bills worth 68.19 billion.

Business Post gathered that the apex bank will conduct the exercise using the Dutch auction system.

Settlement will be made on Friday, which is the next day after the auction.

The country’s chief lender issues treasury bills twice a month to assist the Federal Government fund its budget deficit and also help commercial banks in managing liquidity and curb inflation.

Thursday’s sale is the first for the month of October 2017, according to calendar for the issuance of treasury bill for the fourth quarter of 2017 released by the CBN.

The next one for this month is slated for Thursday, October 19, 2017.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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