The Central Bank of Nigeria has announced an offer of N197.598bn treasury bills, in three tranches, accessible by August 27, 2020.
The bills, which will be offered through Dutch auction, are for 91-day, 182-day and 364-day tenors respectively.
In a publication signed by its Government Securities Office, CBN said it issued the offer on behalf of the Debt Management Office. A breakdown shows that the treasury bills are N20.373bn, N31.752bn and N145.475bn, in that order.
CBN said the bill must be in multiple of N1,000 subject to a minimum of N50.001m, adding that authorised money market dealers could submit multiple bids.
A bid may be for authorised money market dealers’ own account, non-money market dealers or interested individuals.
CBN also revealed that the result of the auctions would be announced next Wednesday, as 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’ accounts with the CBN.
