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CBN To Raise N167.5bn In Treasury Bills

The Central Bank of Nigeria (CBN) plans to raise N167.51 billion in treasury bills with maturities ranging between 3-month and 1-year on April 20, it said on Tuesday.

The bank aims to raise N36.78 billion in the 3-month paper, N35 billion in the 6-month note and N95.73 billion in the 1-year debt, using the Dutch auction system.

The apex bank issues short-dated debt to mop-up excess liquidity in the banking system to curb rising inflation, finance a portion of the budget deficit and help commercial lenders manage their liquidity.

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