The Central Bank of Nigeria (CBN) plans to sell N195.17 billion worth of 3-month, 6-month and 1-year treasury bills on August 5.
A breakdown of the proposed debt auction according to the central bank include N45.17 billion worth of the 3-month paper, N30 billion of 6-month bill and N120 billion in a 1-year debt, through its Dutch auction System. The results of auction will be published the following day.
Meanwhile, the central bank has disclosed that broad money supply (M2) declined by 0.61 per cent in June 2015, below the level at end-December 2014. The modest decline in money supply reflected decreases in the net foreign assets of 16.15 per cent and other assets (net) of 21.40 per cent. Net domestic credit (NDC), however, grew by 13.45 per cent. Annualised, NDC grew by 27.90 per cent over the end-December 2014 level but essentially within the provisional benchmark of 29.30 per cent for fiscal 2015. Read more
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