CBN to sell N310.94billion treasury bills Thursday

Central Bank of Nigeria (CBN) will sell treasury bills worth N310.94 million on Thursday, according to the Financial Market Dealers Association (FDMA) in Lagos.

The association said in its daily report on Wednesday, in Lagos, that the bills would be sold at the CBN’s Open Market Operation (OMO) and the Primary Market Auction (PMA).

Bills at the auctions would include a 122-day, 119-day and 63-day bills at N77 billion, N104 billion and N25.10 billion respectively.

According to the report, the bills are expected to yield interests of 13.49 per cent, 13.40 per cent and 11.50 per cent respectively on maturity.

The report added that the 91, 182 and 365-day bills at the PMA auction would be sold for N30.16 billion, N73.49 billion and N80 billion respectively.

It said that the bills would yield interests worth 11.55 per cent, 13.34 per cent and 15.07 per cent on maturity.

Also, the Nigeria Interbank Rate Offer Rates (NIBOR) at different day rates increased in percentage against the previous day’s activities, the report said.

It said that the call rate at the interbank market gained 0.75 per cent standing at 14.54 per cent, compared to 13.79 per cent on Tuesday.