CBN to raise N120.5b treasury bills next week

The Central Bank of Nigeria (CBN) has said it plans to sell N120.52 billion of three-month, six-month and one-year Treasury bills on June 24, the bank said.

The bank said in a statement it would sell N31.19 billion worth of the three-month paper, N39.33 billion of the six-month bill and N50 billion in the one-year debt next week, using the Dutch auction System.

At an auction later, the bank is offering N143.64 billion worth of Treasury bills of tenors ranging between three-month and one-year.

In addition, a total of N80 billion worth of Treasury bonds with maturities between five-year and 20-year are also on offer at the same auction. The results of both auctions will be published today.

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