CBN to sell N1.7tn in Treasury Bills in Q2

The Central Bank of Nigeria (CBN) says it will sell Treasury Bills (TBs) of N1.73 trillion in the second quarter of the year 2016.

This is contained in its latest edition of the Nigeria Treasury Bills Issue programme.

The issue programme commences on March 17, and ends on June 2nd 2016, during which period, the apex bank will issue N303.78
billion worth of 91 days TBs, N169.99 billion worth of 182 days TBs, and N599.63 billion worth of 364 days TBs.

The CBN asides from using TBs to control money supply in the economy, they are also short term (less than one year) debt instruments used by the bank to borrow from the public on behalf of the federal government.

Read also: Forex crisis: CBN reshuffles key directors

A breakdown of the programme shows that in March, the apex bank plans to sell N261.62 billion worth of TBs, comprising N68.12 billion worth of 91 days bills, N37.23 billion worth of 182 days bills and N156.27 billion worth of 364 bills.

In April, the CBN will sell N386.41 billion worth of TBs, comprising N92.19 billion worth of 91 days bills, N68.49 billion worth of 182 days bills, and N225.73 billion worth of 364 days bills.

From May 5 to June 2nd, the CBN plans to sell 405.4 billion worth of TBs comprising N123.47 billion worth of 91 days bills, N64.25 billion worth of 182 bills and N217.68 billion worth of 384 days bills.

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