CBN to sell N823.4b worth of t-bills in Q1

The Central Bank of Nigeria (CBN) says it plans to raise treasury bills worth N823.43 billion in the first quarter of 2019.

The CBN made the disclosure in its 2019 Nigerian Treasury Bills Issue programme for the first quarter of the year which was posted on its website.

NAN reports that the apex bank said the bills which would be rolled over, would range between three months and one year papers. They include the 91-day bills worth N51.46 billion, 182-day bills of 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 the same period. They are in 91-day, 182-day and 364-day paper worth N59.02 billion, N248.84 billion and N678.06 billion respectively. NAN reports that CBN sells treasury bills twice a month to help government fund its budget’s deficit. The country issues treasury bills regularly as part of monetary control measures to help banks manage their liquidity and control the money supply.