CBN To Withdraw N132bn Naira Through Treasury Bills

The Central Bank of Nigeria (CBN) will on Wednesday withdraw N132.06 billion from the system through the sale of treasury bills in 91, 182- and 364-day treasury bills at its regular debt auction.

The regulator said it will sell N39.27 billion in 91-day paper, N45 billion in 182-day treasury bills and N47.78 billion in 364-day bills next Wednesday, using the Dutch auction system.

“The bank reserves the right to vary the amount on offer in line with market realities prevailing as at the period of auction,” the bank said late on Thursday in a public notice.

Nigeria, sub-Saharan Africa’s second biggest economy after South Africa, issues treasury bills regularly as part of measures to reduce money supply, curb inflation and help lenders manage their liquidity.