CBN to issue N722bn treasury bills in economy Q3 2021

*The Central Bank of Nigeria uses Treasury Bills as short-term debt instruments to borrow money from the public on behalf of the Federal Government

Alexander Davis | ConsumerConnect

As veritable measure in managing and controlling supply in the country’s economy, the Central Bank of Nigeria (CBN) has disclosed it will sell N722 billion worth of Treasury Bills (TBs) in the third quarter (Q3) of 2021.

ConsumerConnect gathered the Bankers’ Bank stated this in its Nigeria Treasury Bills Issue Programme for Q3 ’21 released at the weekend.

Central Bank of Nigeria Headquarters, Abuja, FCT

Treasury Bills are short-term debt instruments used by CBN to borrow money from the public on behalf of the Federal Government.

The Central Bank of Nigeria as well applies TBs to control money supply in the country’s economy.

The TBs will be issued in tranches with the first tranche rolled out on June 3, 2021, while the last tranche is scheduled for August 28, 2021, said the CBN.

The Bank, during the period, will issue TBs worth N41.35 billion on 91 days tenor, N151.13 billion on 182 days and N529.68 billion on 364 days.

A breakdown of the programme indicated that in June this year, CBN plans to sell N106.1 billion worth of TBs, comprising N7.26 billion worth of 91 days bills, N9.52 billion worth of 182 days bills, and N89.32 billion worth of 364 days bills.

Whereas in July, the CBN plans sale of N407.34 billion worth of TBs, comprising N22.53 billion worth of 91 days bills, N92.84 billion worth of 182 bills and N291.97 billion worth of 364 days bills.

Likewise in August, the apex bank projects to sell N208.68 billion worth of TBs, comprising N11.55 billion worth of 91 days bills, N48.76 billion worth of 182 bills and N148.37 billion worth of 364 days bills, according to report.

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