CBN Sells N191b Treasury Bills Today at Primary Market

By Modupe Gbadeyanka

Treasury bills worth N190.8 billion would be auctioned today via the primary market by the Central Bank of Nigeria (CBN).

According to the calendar of the NTB issued by the apex bank, the 91-day bill worth N6.1 billion would be offered to investors at the market today, while N6.7 billion worth of the 182-day instrument would be sold to traders.

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

However, the rates are expected decline today as in the previous exercise.

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

Twice a month, the CBN issues treasury bills to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.

To buy treasury bills from the primary market, investors have to approach their banks requesting for a form.