CBN Announces 119.9 Billion Naira Treasury Bill Auction On November 15
If you are an investor, time has come for you to make some money by lending to the government.
The Central Bank of Nigeria, CBN on Wednesday announced that it plans to sell 119.94 billion Naira of treasury bills at an auction on November 15.
CBN announced in a statement on Wednesday that it plans to offer 32.44 billion Naira in three-month paper, 22.82 billion Naira in six-month bills and 64.68 billion Naira of a one-year note. Results of the auction will be announced on the same day.
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Recall that a fortnight ago, the CBN offered for sale, 100.83 billion Naira of treasury bills at an auction.
The CBN offered 23.05 billion Naira which will mature in three months, 23.43 billion Naira to mature in six months and 54.35 billion Naira that will be repaid in one year.
The central bank issues treasury bills twice a month to help the government finance its budget deficit, curb money supply growth and provide an avenue for banks to manage the amount of cash in circulation.
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