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CBN sells N136.24bn treasury bills at first auction in 2016

cbnThe Central Bank of Nigeria sells N136.24 billion in treasury bills with maturities from three months to one year at its first auction of the year 2016.

The central bank sold N55.4 billion of three-month paper at 4 percent, up from 3.62 per cent in December last year.

Minister of Finance, Kemi Adeosun, says the federal government will soon go to the debt market to raise fund in order to finance its capital expenditure.

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Adeosun added that the decision to borrow is being considered in light of the pressure confronting the economy as a result of plunging oil prices in the global crude market.

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