Nigeria Plans 117 Billion Naira Treasury Bill Auction On Wednesday
If you are an investor, you should get prepared for tomorrow.
On Wednesday, November 29, the Central Bank of Nigeria will auction 117.17-billion-naira worth of treasury bills.
The CBN plans to offer 26.14 billion naira in three-month paper, 11 billion naira in six-month bill and 80.03 billion naira in one-year note.
Results of the auction will be announced on Thursday.
CBN issues treasury bills twice a month to help the government to finance its budget deficit, curb money supply growth and provide an avenue for lenders to manage liquidity.
Also Read: How To Invest In Treasury Bills
Meanwhile, capital importation reports from the National Bureau of Statistics, NBS reveal that foreign investors are flocking back to the country.
According to the NBS reports, foreign investment between July and September more than doubled in the third quarter of this year to $4.15 billion, about 1.2 trillion naira using the official exchange rate of 305 naira/dollar.
The over $4 billion recorded in the third quarter is the first of such quarterly growth since 2015 and the recession.
The rise, according to the report, was driven by portfolio and other investments.
“Shares recorded the largest amount of capital imported in Q3 2017, closely followed by servicing and production sectors,” NBS said.
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