The Central Bank of Nigeria (CBN) disclosed its plans to sell N722 billion worth of Treasury Bills (TBs) in the third quarter this year.
This development was made known by the apex bank last weekend, in its Nigeria Treasury Bills Issue Programme for Q3’21.
The Treasury Bills (TBs), are used by the Central Bank to control the supply of money in the nation, as well as the regulation of the economy.
The Central Bank of Nigeria stated that the TBs would be issued in tranches with the first tranche rolled out on June 3, 2021, while the last tranche is scheduled for August 28, 2021.
During the stated period, CBN is set to issue TBs worth N41.35 billion on 91 days tenor, N151.13 billion on 182 days and N529.68 billion on 364 days.
In the month of June, 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.
July’s target by CBN includes the 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.
For the month of August, CBN plans 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.