CBN to sell N821.8 bn Treasury Bills in Q3’20

Godwin Emefiele, CBN Governor.

By Elizabeth Adegbesan

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…

Read All From The Original Article On Vanguard

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