The Federal Government will today borrow N66.68 billion through the sales of Treasury Bills To Investors by the apex bank.
This amount would be refinanced by apex bank via the primary market; viz: 91-day bills worth N5.39 billion, 182-day bills worth N20 billion and 364-day bills worth N41.29 billion.
Treasury bills are short-term debt instruments issued by the Federal Government through the Central Bank to provide short term funding for the government. They are sold at a discount and redeemed at par.
Twice a month, the CBN issues treasury bills to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.
To buy treasury bills from the primary market, investors have to approach their banks requesting for a form.