By Adedapo Adesanya
The Central Bank of Nigeria (CBN) will sell N821.8 billion worth of Treasury bills in the third quarter of 2020.
This was revealed in the apex bank’s latest round of Nigeria Treasury Bills Issue programme released on June 4.
During the period, from June to August, the apex bank will issue treasury bills worth N109.65 billion of 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 treasury bills 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 treasury bills, 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.
Then in August, the CBN plans to sell N254.38 billion worth of T-bills 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.
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 bank also uses T-bills to regulate money supply in the economy in order to prevent and control inflation.
Modupe Gbadeyanka