CBN PUMP UP THE T-BILLS
The Central Bank of Nigeria (CBN) plans to raise a total of N1.809 trillion from the debt market, in the first quarter of 2019.This is according to data contained in the Nigerian Treasury Bills Issue Programme for the first quarter of 2019, posted on the bank’s website on Tuesday. The apex bank said it would raise
N823.43 billion from rollover programmes with a maturity period ranging from one to three years.According to the document, 91-day bills vlaued at N51.46 billion will be rolled over, together with 182-day bills worth N164.92 billion and 364-days bill worth N607.05 billion.The apex bank also said N985.93 billion worth of treasury bills would mature during the same period.They are in 91-day, 182-day and 364-day papers worth N59.02 billion, N248.84 billion and N678.06 billion respectively.
The CBN sells treasury bills twice a month to help the federal government raise money to fund its budget deficit.It issues treasury bills regularly as a control measure to help banks mop up excess liquidity and control the money supply. Meanwhile, the APEX BANK yesterday injected another sum of $210 million into the inter-bank foreign exchange market. The exercise was in continuation of its periodic intervention in the foreign exchange market.
Figures released by the CBN indicated that authorised dealers in the wholesale segment of the market received the sum of $100 million, while the Small and Medium Enterprises (SMEs) and the invisibles segments were allocated the sum of $55 million each.
The Director, Corporate Communications Department at the CBN, Isaac Okorafor, confirmed the figures and restated the Bank’s resolve to always meet the request of genuine customers in the various segments of the market.It will be recalled that on Friday, January 25, 2019, the Bank injected a total sum of $289.76 million into retail Secondary Market Intervention Sales (SMIS) and CNY38.70 million in the spot and short-tenored forwards of the inter-bank foreign exchange market.Meanwhile, the naira continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market.
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