CBN to Auction N67b Treasury Bills Today

By Modupe Gbadeyanka

Treasury bills worth N66.68 billion would be offered to investors at the market today by the Central Bank of Nigeria (CBN).

This amount would be refinanced by apex bank via the primary market; viz: 91-day bills worth N5.39 billion, 182-day bills worth N20 billion and 364-day bills worth N41.29 billion.

However, it is not certain if the stop rates would increase today like in the previous primary market auction.

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.