CBN to mop up N952bn from circulation in Q4 – Today


The Central Bank of Nigeria said about N952.04 billion will be mopped up from the system through new issues of Treasury bills from September 15 to December 1, 2016 according to its latest issuance calendar.

The apex bank said it would sell N264.47 billion worth of three-month bills, N204.88 billion of six-month bills and N482.69 billion of one-year bills.

Penultimate week, N212.85 billion had been mopped up in an auction of treasury bills with yields little changed from previous sales, according to data from the Debt Management Office.

The debt office raised 45.85 billion naira of three-month paper at 14.38 percent, down from 14.99 percent in mid-August; 62 billion naira of six-month bills at 17.50 percent, up from 17.48 percent, and 105 billion of one-year paper at 18.42 percent, down from 18.50 percent.

Higher subscriptions on the one-year sale suggested some offshore investors participated, market players said.