CBN to Sell N49.6b T-Bills at Primary Market Today

By Dipo Olowookere

Treasury bills worth N49.6 billion would be offered to investors today, Wednesday, May 30, 2018 by the Central Bank of Nigeria (CBN) via the primary market.

This exercise is expected to partly offset the maturing treasury bills worth 192.01 billion tomorrow.

It is expected that the stop rates of these instruments to be sold today will rise.

A breakdown of today’s sales showed that the central bank will offer N4.96 billion worth of the 91-day bills, N24.80 billion worth of the 182-day instruments and N19.84 billion worth of the 364-day bills.

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.