Lagos - In continuation of its tight monetary policy stance, the Central Bank of Nigeria (CBN) will in the next three months drain N1.866 trillion from money markets through repurchase agreements, reports Vanguard.
A notice from the apex bank showed that it would sell N933.2 billion of secondary market and N933.2 billion primary market bills from March 20 to June 5.
A breakdown of the figures indicates that the bank will sell N202.59 billion of secondary market bills in the last week of March, N334.25 billion in April, N258.39 billion in May and N137.97 billion in the first week of June.
In the same vein, the bank would sell primary market bills worth N202.59bn in the last week of March, N334.25bn in April, N258.39bn in May and N137.97 bn in the first week of June.
Read more at Vanguard.
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