CBN to Auction N170.5b Treasury Bills via PMA

By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) will on Wednesday, July 4, 2018, conducted another sale of treasury bills via the primary market auction (PMA).

Tomorrow’s exercise is the first of the two sales scheduled for the month of July 2018.

During the auction, the apex bank will offer a total of N170.5 billion worth of the government instruments to investors.

A breakdown of the anticipated exercise showed that the central bank would auction N9.5 billion worth of the 91-day bill of the T-bills.

Also, the bank would sell N33.9 billion worth of the 182-day instrument and N127.1 billion worth of the 364-day paper.

Business Post reports that the settlement for this auction expected tomorrow will be on Thursday, July 5, 2018.