Nigeria’s central bank to auction N1.27trn treasury bills in Q1 2018

Nigeria plans to sell N1.27 trillion worth of treasury bills in five auctions in the first quarter of 2018, according to the Central Bank of Nigeria’s Treasury Bills Issuance Calendar, seen by Businessamlive.

Specifically, the CBN would offer N87.71 billion in the three-month paper, N244.27 billion in the six-month bill and N933.61 billion in a one-year note.

The planned treasury bills auction of N1.27 trillion in Q1 2018 represent a 38 percent increase over the N917.144 billion the CBN issued in the 4th quarter of 2017.

The bank 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.