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Monday, October 11, 2010

CBN to issue N120bn treasury bills this week


As about N78 billion worth of maturities is expected in the system, the Central Bank of Nigeria (CBN) will this week issue N119.13 billion in 91-day, 182-day and 364-day treasury bills.

According to Reuters, the apex bank said it would issue N23.58 billion in 91-day bills, N45.55 billion in 182-day bills and N50 billion in one year paper using the Dutch Auction System (DAS).

Meanwhile, the inter-bank rates came down at the end of last week following the injection of federal civil servants employment benefits and arrears into the banking system by the Federal Government as well as the purchase and re-purchase of government securities by CBN.

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