CBN to Sell N1.23bn Worth of Treasury Bills in Q1 2017

The federal government plans to raise about N1.23 billion through issuance of treasury bills in the first quarter of next year. It further plans to raise N1.24 billion from treasury bills which are rolled over into 2017 and maturing at different dates.

The CBN governor, Mr. Godwin Emefiele
The CBN governor, Mr. Godwin Emefiele

According to the Central Bank of Nigeria (CBN) issuing calendar for treasury bills, which was posted on its website, bills maturing in three months, six months and one year are expected to yield N244.76 million , N321.51 million and N665.54 million respectively in Q1 2017.

However, the rollover issuance is expected to generate N244.76 million , N337.30 million and N665.54 million for bills with 91, 182 and 364-day tenor respectively.

The federal government issues treasury bills as part of a borrowing plan to finance part of the government budget deficit as well as to help manage liquidity in the banking system and curb inflationary growth.