CBN plans sale of N254.61 billion Treasury bill

Channels Television  
Updated July 5, 2012
Central Bank of Nigeria Headquarters, Abuja

The Central Bank of Nigeria (CBN) plans to auction N254.61 billion in treasury bills with maturities ranging from three months to one year at its bi-monthly debt auction on July 12, the CBN announced in a public notice on Wednesday.

The bank said it will sell N30 billion in 91-day paper, N159.21 billion in 182-day, and N65.40 billion in 364-day bills in a Dutch auction.

The federal governed via the CBN sells short-dated debt instruments bi-monthly to control money supply, curb inflation and help lenders manage their liquidity.