CBN to sell N809.4 bn Treasury Bills in Q3’19
The Central Bank of Nigeria, CBN, has slated Treasury Bills, TBs, sales worth N809.4 billion for the third quarter 2019, Q3’19. This is contained in the apex bank’s latest Nigeria Treasury Bills Issue programme released last weekend.
Treasury Bills are short term (less than one year) debt instruments used by the CBN to borrow money from the public on behalf of the federal government. The CBN also uses TBs to control money supply in the economy.
The TB issue programme commences on June 13, and ends on August 29, 2019.
During the period, the apex bank will issue TBs worth N80.62 billion on 91 days tenor, N154.04 billion on 182 days and N574.71 billion on 364 days.
A breakdown of the programme revealed that in June, the apex bank plans to sell N147.25 billion worth of TBs, comprising N8 billion worth of 91 days bills and N139.25 billion worth of 364 bills.
In July, the apex bank plans to sell N195.91 billion worth of TBs, comprising N15.9 billion worth of 91 days bills, N46.6 billion worth of 182 days bills, and N133.46 billion worth of 364 days bills.
In August, the CBN plans to sell N446.2 billion worth of TBs comprising N36.77 billion worth of 91 days bills, N107.43 billion worth of 182 bills and N302 billion worth of 384 days bills.