CBN to issue N229bn treasury bill next week

THE Central Bank of Nigeria (CBN) is planning to issue N229.14 billion in Treasury bills at an auction on August 2.

The bank said it will issue N29.14 billion in three-month bills, N80 billion in six-month paper and N120 billion in one-year bills.

Nigeria’s central bank issues Treasury bills twice a month to help the government to finance its budget deficit, curb money supply growth and to help lenders manage their liquidity.

The bill comes after the government disbursed budget allocation to its agencies, prompting the central bank to mop up excess liquidity.