The Central Bank of Nigeria (CBN) is set to begin sales of scheduled Treasury Bills worth N1.06 trillion Naira, from next week Thursday till November 26.
The apex bank has also resumed the sale of foreign exchange to banks, to clear the backlog of pending demands believed to have exceeded $1.5 billion US dollars, after many weeks of absence from the foreign exchange market.
Treasury Bills are short term (under 12 months) debt instruments used by the CBN to borrow money from the public on behalf of the federal government. The CBN also uses the bills to control money supply in the economy.
During the period, the apex bank will issue treasury bills worth N95.3 billion on a 91 days window, N113.4 billion on 182 days and N709.9 billion on 364 days.
In September, the apex bank plans to sell N287.32 billion worth of treasury bills, comprising N6.91 billion worth of 91 days bills, N22.4 billion worth of 182 bills and N258.01 billion worth of 364 bills.
In October, the apex bank also plans to sell N353.24 billion worth of TBs, comprising N48.7 billion worth of 91 days bills, N31.72 billion worth of 182 days bills, and N272.82 billion worth of 364 days bills.
