• CBN to borrow N129.6Bn on Wednesday through treasury bills

    CBN to borrow N129.6Bn on Wednesday through treasury bills

    The Central Bank of Nigeria is set to borrow about N129.67bn ($403.01m) in short-dated Treasury bills at an auction on Wednesday.

    The Apex bank said it would raise N28bn in three-month paper, N33.49bn in six-month bills and N68.18bn in one-year bills.

    Payment for the purchases will be made on Thursday, a public notice by the Lender stated.

    The Federal Government issues Treasury bills to raise cash to fund the budget deficit, manage banking system liquidity and curb rising inflation.

    The nation’s interbank lending rates […]