2019: CBN to Raise N1.8tn From Treasury Bills Sale Q1

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  • 2019: CBN to Raise N1.8tn From Treasury Bills Sale Q1

The Central Bank of Nigeria plans to raise a total of N1.809tn from the debt market, in the first quarter of 2019, The Cable reported on Thursday.

This is according to data contained in the Nigerian Treasury Bills Issue Programme for the first quarter of 2019, posted on the bank’s website on Tuesday.

The apex bank said it would raise N823.43bn from rollover programmes with a maturity period ranging from one to three years.

According to the document, 91-day bills worth N51.46bn will be rolled over, together with 182-day bills worth N164.92bn and 364-days bill worth N607.05bn.

The apex bank also said that N985.93bn worth of treasury bills would mature during the same period.

They are in 91-day, 182-day and 364-day papers worth N59.02bn, N248.84bn and N678.06bn respectively.

The CBN sells treasury bills twice a month to help the Federal Government raise money to fund its budget deficit.

It issues treasury bills regularly as a control measure to help banks mop up excess liquidity and control the money supply.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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