Nigeria To Issue 229 Billion Naira Treasury Bill Next Week
The federal government continues to rake in more money through securities to finance the 2017 budget.
On Wednesday, the Central Bank of Nigeria, announced plans to issue 229.14 billion naira in Treasury bills at an auction on August 2, 2017.
The bank said it will issue 29.14 billion naira in three-month bills, 80 billion Naira in 6-month paper and 120 billion in one-year bills.
The CBN regularly issues Treasury bills - twice a month - to help the government to finance its budget deficit, curb money supply growth and help commercial banks manage their cash.
The treasury bill comes after the government disbursed budget allocation to its agencies, prompting the central bank to mop up excess liquidity.
Nigeria released 652.2 billion naira late on Tuesday to its three tiers of government - federal, states and local - as their June budget disbursement.
Dear Governors, remember the people while disbursing the national cake o!