CBN to Auction N119.94b Treasury Bills Wednesday

By Modupe Gbadeyanka

On Wednesday, November 15, 2017, the Central Bank of Nigeria (CBN) will offer treasury bills worth N119.94 billion for sale to investors.

A breakdown showed that the apex bank will sell 91-day bills worth N32.44 billion, 182-day bills worth N22.82 billion, and 364-day bills worth N64.68 billion.

Business Post gathered that the auctions would be more than offset by treasury bills maturities worth N208.57 billion via the open market operations (OMO).

This is expected to boost in the financial system liquidity and resultant moderation in interbank rates.

Last week, the overnight rate dropped week-on-week to 8.5 percent from 40.18 percent the previous week.