First Edition of the Tastemakers Wine Series Hosted by Vendease

Banking

CBN raised N1.13 trillion in government bills in the second quarter.

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.
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.

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.

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.

 

 

Related posts
Banking

Bidvest Group Begins Search for Bidvest Bank Buyer, Aiming to Minimize Retrenchments

Banking

"UBA provides assistance to micro, small, and medium enterprises (MSMEs)."

Banking

Zenith Bank leads Nigerian lenders in new global ranking

Banking

Expert tasks CBN on exploitative bank charges

Sign up for our Newsletter and
stay informed

Leave a Reply

Your email address will not be published. Required fields are marked *