Business

CBN to raise N1.8trn in treasury bills in Q1 2019

Exporters rake in $1.16b in 3 months
By Editor

The Central Bank of Nigeria (CBN) has plans to raise a total of N1.809 trillion from the debt market, in the first quarter of 2019.

The CBN disclosed this in the Nigerian Treasury Bills Issue Programme for the first quarter of 2019, posted on the apex bank’s website.

According to the programme, CBN said it would raise N823.43bn from rollover programmes with a maturity period ranging from one to three years.

Also, 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.

Read also: Nigeria’s foreign reserve rise by $6.4m in 3 weeks

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

These 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 also issues treasury bills on regular basis as a way to help banks mop up excess liquidity and control the money supply.

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