CBN to Sell N1.130bn Treasury Bills in Second Quarter

• CBN to Sell N1.130bn Treasury Bills in Second Quarter

The Central Bank of Nigeria (CBN) said it plans to issue treasury bills worth N1,129,855,189 in the second quarter of the year.

According to the CBN’s Nigerian Treasury Bills issue programme posted on its website yesterday, 91-day treasury bills issue worth N242,673,157 would be sold in next quarter. In the same vein, 182-day valued at N197,891,045 would be issued during the period, just as 364-day bills valued at N689,290,987 would also be auctioned by the regulator next quarter.

Meanwhile, the naira closed at N460 to the dollar at some parallel market points in Lagos yesterday.

The interbank forex market traded $540,000 in early deals at N375 per dollar, near a record low exchange rate hit last November, Thomson Reuters data showed on Monday.

The local currency traded at a record low of N375.50 to the dollar last November on the official interbank market before it reversed losses.

The interbank market traded a total of $3.77 million at multiple exchange rates on Monday, the data showed.

Traders said banks were selling dollars bought from international money transfer agents to retail customers at N375.