CBN to sell N219bn worth of treasury bills at auction

The Central Bank of Nigeria (CBN) says it plans to sell N218.89 billion worth of treasury bills on April 7.

The CBN disclosed this in its treasury bills issuing calendar for second quarter of 2016.

It said it would sell N55.40 billion worth of three-month tenored bills at the auction and N33.49 billion worth of six-month tenored bills.

The apex bank said it would also sell N130 billion worth of one-year tenored bills during the auction.

The three bills would be sold using the Dutch Auction System (DAS), while the result of the auction will be released the next day.

The bank said that same amount of bills would be due for repayment on the auction date.