Finance

CBN to raise N1.13tn treasury bills in Q2

CBN to raise N1.13tn treasury bills in Q2

The Central Bank of Nigeria plans to raise N1.13tn via treasury bills for the second quarter of 2023.

This was according to the latest Nigerian Treasury Bill Issue Programme for the Second Quarter 2023 available on the bank’s website.

This is a significant increase from N926bn raised in the second quarter of 2022. The bills are divided into three tenors of 91-days, 182-days, and 364-days with a plan to raise N23.67bn, N34.7bn and N1.08tn respectively.

The programme document also revealed that the issuance is for March to May 2023.

Read:  Dangote receives highest civilian honour in Cameroon

A breakdown shows that the CBN plans to raise N531.74bn worth of T-bills, comprising N4.28bn worth of 91 days bills, N14.8bn worth of 182 days bills, and N512.66bn worth of 364 days bills in March.

In April, the central bank plans to raise N280.98bn worth of T-bills comprising N4.8bn worth of 91 days bills, N12.62bn worth of 182 bills and N263.56bn worth of 364 days bills.

Read:  MTN MoMo wallets hit 4.2m in less than two months 

In May, the apex bank plans to raise N324.36bn worth of T-bills comprising N14.48bn worth of 91 days bills, N7.2bn worth of 182 bills and N302.68bn worth of 364 days bills.

The bills are also a roll-over of maturing bills for the corresponding period.

The CBN has raised a total of N540.9bn via treasury bills for January and February combined.

This is higher than N342.6bn raised in the corresponding period of 2022.

Read:  Naira exchange rates December 2021

Nigeria’s treasury bills rates have risen over the last few weeks with the 91 days treasury bills going for three per cent, 182 days at 3.24 per cent and 9.9 per cent for the one year bill.

T-bills are short-term debt instruments issued by the Nigerian goverment through the CBN to raise funds to finance government budget deficits.

The government issued a total treasury bills amount of N3.9tn in 2022, according to data from the central bank.

Punch

Related posts

Julius Berger wins most Reliable Engineering Construction Company award

NigGal

Again, Emefiele shuns reps summon over cash withdrawal limits

NigGal

Naira Crisis: Business owners count losses as failed e-transactions soar

NigGal

MTN, Mafab to pay $273.6m for 5G network rollout

NigGal

FX crisis: FG to issue domestic dollar bonds June

NigGal

SEC to charge 0.025% regulatory fee on fixed income transactions from Jan 1

NigGal

Leave a Comment