The Central Bank of Nigeria, CBN has released full details about its treasury bills sales for the rest of 2016. According to the data, the apex bank will issue a total of NGN1,76 trillion in treasury bills for the rest of the year.
For bills with 91 days maturity, the CBN plans to sell a total of NGN254,4 billion in treasury instruments. For bills planned to mature after 182 days, the apex bank said it will offer NGN194,8 billion in treasury bills.
Also for bills planned for 364 days, NGN399 billion will be offered for sale. However rollover sales will be NGN264,4 billion, NGN204,8 billion, NGN482,6 billion for 91,182 and 364 days respectively.
The trend in the data shows that the Central Bank is looking at tightening liquidity in the system for the rest of the year. Investors might be looking at investing in these bills as the apex bank has announced a revision in the capital importation policy.
Under the new system, local and foreign investors can now invest imported forex capital into treasury bills, bonds and equities,