Banking Economy News Extra

CBN Plans To Auction N1.27trn Treasury Bills In Q1 2018

The Central Bank of Nigeria has released the calendar for Treasury Bills issuance for the first quarter of next year with the total value amounting to N1.27 trillion.

The Central Bank of Nigeria’s Treasury Bills Issuance Calendar, sourced from the apex bank’s website and which covers the period 14th December 2017 to 1st March 2018,  indicated that  it  would offer for sale N87.71 billion in the 91-day paper, N244.27 billion in the 182-day or six month bill and N933.61 billion in a one-year issue.

It also targets the rollover value of the 91-day treasury bills to be N42.02 billion compared with the rollover values of the 182-day and 364-day issues for the period to be N190.09 billion and N848.15 billion respectively.

The planned treasury bills auction of N1.27 trillion in Q1 2018 reflects a 38 percent increase over the N917.144 billion issued by the apex bank in the 4th quarter of 2017.

In practice, the CBN normally issues treasury bills twice a month as part of its monetary policy measures targeted at helping the Federal Government to bridge budget deficit gap,  control money supply into the money market and enable banks to manage market liquidity.

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