This week, there will be maturing primary and secondary market securities totalling N413.77 billion viz: 91-day bills worth N28.69 billion; 182-day bills worth N33.49 billion, 252-day bills worth N0.28 billion, 363-day bills worth N283.13 billion and the 364-day bills worth 68.18 billion.
Furthermore, there will be treasury bills auction via primary market during the week totalling N130.36 viz: 91-day bills worth N28.69 billion, 182-day bills worth N33.49 billion and 364-day bills worth 68.18 billion.
As a result, “we expect that at the interbank market, there will be a slight easing of the financial system liquidity with a resultant decrease in rates,” dealers from Cowry Assets Management said in a note to investors over the weekend.
The N130.37 billion worth of treasury bills will be sold at an auction on Oct 4., the central bank said.
The bank plans to offer N28.69 billion in a three-month paper, N 33.49 billion in the six-month bill and N68.18 billion in a one-year note. Results of the auction according to the CBN will be announced on the same day.
The central bank issues treasury bills twice a month to help the government to finance its budget deficit, curb money supply growth and provide an avenue for lenders to manage liquidity.
and then