By Elizabeth Adegbesan
MONEY MARKET
The Central Bank of Ni Nigeria, CBN, said it will sell N570 billion worth of Treasury Bills (TBs) in the second quarter of 2021 (Q2’21).
The apex bank disclosed this in its Nigeria Treasury Bills Issue Programme for Q2’21 released yesterday.
TBs are short term debt instruments used by CBN to borrow money from the public on behalf of the federal government. The apex bank also uses TBs to control money supply in the economy.
The TBs would be issued in tranches with the first tranche rolled out on March 11, 2021, while the last tranche is scheduled for May 27, 2021.
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During the period, the apex bank will issue TBs worth N92.05 billion on 91 days tenor, N79.64 billion on 182 days and N398.7 billion on 364 days.
A breakdown of the programme revealed that in March, the apex bank plans to sell N135.96 billion worth of TBs, comprising N5.9 billion worth of 91 days bills, N22.39 billion worth of 182 days bills, and N107.67 billion worth of 364 days bills.
In April, CBN plans to sell N253.68 billion worth of TBs comprising N37.29 billion worth of 91 days bills, N28.1 billion worth of 182 bills and N188.29 billion worth of 364 days bills.
In May, CBN plans to sell N170.71 billion worth of TBs comprising N48.84 billion worth of 91 days bills, N29.15 billion worth of 182 bills and N92.72 billion worth of 364 days bills.
The post CBN to sell N570bn Treasury Bills by Q2’21 appeared first on Vanguard News.
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