CBN Offers N197bn Treasury Bills

The Central Bank of Nigeria (CBN) on behalf of the Debt Management Office (DMO) has offered Nigerians N197 billion treasury bills of 91, 182 and 364 days tenor respectively on August 27, 2020.
In a publication signed by the Government Security office of the apex bank yesterday in Abuja, it said bills are worth N20.372bn, N31.751bn and N145.475bn which will be issued by Dutch auction next Wednesday.

According to a tender offer statement, the bill must be in multiple of N1,000 subject to a minimum of N50,001,000 adding that authorized money market dealers can submit multiple bids.

It also said a bid may be for authorized money market dealers own account, non- money market dealers or interested individual.
CBN also revealed that the result of the auctions would be announced on August 27 but that the bank reserves the right to reject any bid.
The bank also assured that allotment letters would be issued for successful bids while payment for the successful bids would be made to individuals account with the CBN.

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