Nigeria’s Central Bank (CBN) has revealed plans to sell ₦917.1 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 ₦917.1 billion from Thursday, September 14 to Thursday, November 30.
The three months bills to be issued which represent the amount of bills that will mature during the period consist of ₦209.9 billion worth of 91 days bills; ₦197.8 billion worth of 182 days bills; and ₦509.4 billion 364 days bills,while bills to be offered next week comprises ₦28.12 billion worth of 91 days bills, ₦23.68 billion worth of 182 days bills and ₦89.1 billion worth of 364 days bills.
Analysis futher revealed that the apex bank will issue ₦305.2 billion in the last two weeks of September comprising ₦57.2 billion worth 91 days bills, ₦72.2 billion worth 182 days bills, and ₦175.8 billion worth 364 days bills. In October, CBN will issue ₦254.2 billion worth of bills comprising of ₦61.1 billion worth of 91 days bills, ₦68.5 billion worth of 182 days bills, and ₦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 ₦337.9 billion which includes ₦81.6 billion worth of 91 days bills, ₦57.2 billion worth of 182 days bills, and ₦199.1 billion worth of 364 days bills.