CBN to sell N917.1bn treasury bills in 3 months

THE Central Bank of Nigeria (CBN) has revealed plans to sell N917.1 billion worth of treasury bills in the next three months ending November 30. The apex bank disclosed this through its fourth quarterly Treasury Bills Issuance programme released yesterday.
CBN issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.

The programme revealed that CBN will issue treasury bills worth N917.1 billion from Thursday, September 14 to Thursday, November 30. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele The three months bills to be issued which represent the amount of bills that will mature during the period consist of  N209.9 billion worth of 91 days bills; N197.8 billion worth of 182 days bills; and N509.4 billion 364 days bills,while bills to be offered next week comprises N28.12 billion worth of 91 days bills, N23.68 billion worth of 182 days bills and N89.1 billion worth of 364 days bills. Further analysis revealed that the apex bank will issue N305.2 billion in the last two weeks of September comprising N57.2 billion worth 91 days bills, N72.2 billion worth 182 days bills, and N175.8 billion worth 364 days bills.

In October, CBN will issue N254.2 billion worth of bills comprising of N61.1 billion worth of 91 days bills, N68.5 billion worth of 182 days bills, and N 124.6 billion worth 364 days bills. Bills of the same tenure and amount will mature during this period.

In November, the apex bank plans to issue bills worth N 337.9 billion which includes N81.6 billion worth of 91 days bills, N57.2 billion worth of 182 days bills, and N 199.1 billion worth of 364 days bills.