By Dipo Olowookere
The Central Bank of Nigeria (CBN) will this week auction treasury bills worth N100.84 billion via the primary market.
The exercise will precisely take place on Wednesday, November 1, 2017.
According the Nigerian Treasury Bills Issue Programme for Fourth Quarter 2017 released by the apex bank, it would offer for sale 91-day bills worth N23.05 billion, 182-day bills worth N23.43 trillion, and 364-day bills worth N54.35 trillion respectively.
Business Post expects moderation in the stop rates in line with declining inflationary pressures and improving economic outlook.
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.
However, in the month of November 2017, the central bank will issue the treasury bills three times, according to its calendar.
To buy treasury bills from the primary market, investors have to approach their banks requesting for a form.
Adedapo Adesanya