CBN to Raise N1.8 Trillion from Sale of Treasury Bills in Q1 2019
The Central Bank of Nigeria (CBN) plans to raise a total of N1.809 trillion from the debt market, in the first quarter (Q1) of 2019 according to the Nigerian Treasury Bills Issue Programme for the first quarter of 2019.
The figures was however posted on the bank’s website on Tuesday also.
The apex monetary authority of Nigeria said it would raise N823.43 billion from rollover programmes with a maturity period ranging from one to three years.
According to the document, 91-day bills worth N51.46 billion will be rolled over, together with 182-day bills worth N164.92 billion and 364-days bill worth N607.05 billion.
The apex bank also said that N985.93 billion worth of treasury bills would mature during the same period. They are in 91-day, 182-day and 364-day papers worth N59.02 billion, N248.84 billion and N678.06 billion 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.
All rights reserved. Kindly share news, opinion, contributions and press releases with us at email@example.com