CBN To Sell N821.8bn Treasury Bills In Q3, 2020

The Central Bank of Nigeria, CBN, has slated Treasury Bills, TBs, sales worth N821.8 billion in the third quarter 2020, Q3’20.

This is contained in the apex bank’s latest Nigeria Treasury Bills Issue programme released yesterday.

Treasury Bills are short term (less than one year) debt instruments used by the CBN to borrow money from the public on behalf of the federal government.

The CBN also uses TBs to control money supply in the economy.

During the period, the apex bank will issue TBs worth N109.65 billion on 91 days tenor, N149.44 billion on 182 days and N562.71 billion on 364 days.

A breakdown of the programme revealed that in June, the apex bank plans to sell N105.6 billion worth of TBs, comprising N3.8 billion worth of 91 days bills, N6.5 billion worth of 182 days bills and N95.3 billion worth of 364 bills.

In July, the apex bank plans to sell N461.9 billion worth of TBs, comprising N65.7 billion worth of 91 days bills, N101.19 billion worth of 182 days bills, and N295 billion worth of 364 days bills.

In August, the CBN plans to sell N254.38 billion worth of TBs comprising N40.15 billion worth of 91 days bills, N41.75 billion worth of 182 bills and N172.48 billion worth of 384 days bills.