Reuters reports the Central Bank is planning to raise N134b in treasury bills next week. Last week’s sale saw yields drop to as low as 9% last week a territory close to banks Fixed deposit rates. I’m looking at it and wondering if I would be buying or if I should just wait and see how inter bank rates pan out in the coming weeks.
This is Reuters report though;
Nigeria plans to raise 134.88 billion naira ($832.49 million) in treasury bills with maturities ranging between 3-months and one year on Wednesday, the central bank said on Friday.
The bank said it will issue 34.88 billion naira in the 3-month treasury bills, 48 billion naira in the 6-month paper and 52 billion naira in the one-year debt notes.
Nigeria issues treasury bills as regularly as twice monthly to manage money supply in the economy and curb inflation.
The auction result is expected to be released the following day.