Central Bank Auctions N133.8b T-Bills Today

By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) is auctioning treasury bills worth N133.8 billion on Wednesday, October 18, 2017 (today).

The apex bank is expected to raise the amount from the sale of 91-day bills worth N32.40 billion, 182-day bills worth N35.00 billion and 364-day bills worth N66.39 billion.

Proceeds from the exercise conducted by the CBN are expected to provide short-term funding for the Federal Government.

The auctioning would be done via the primary markets and today’s sale is the last for the month of October 2017.

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.

Investors willing to purchase the treasury bills from the primary market are expected to approach their banks requesting for a form.