Nigeria to raise about 503.16 billion naira from the sales of treasury bills in the second quarter of the year, the Central Bank of Nigeria (CBN) has said.
The bank said in its latest debt issuance calendar that it will raise the money through the sales of 3-month, 6-month and one-year treasury bills during the period.
The bank will raise 79.82 billion naira from the sales of the three months treasury bills, 152.53 billion naira from 6-month debt note and 270.70 billion naira from the 1-year paper.
The treasury issuance are, however, not fresh debt but a rollover of the previously issued paper which would mature in the period.
The regulatory bank sell treasury bills with short tenure, the highest is the 1-year paper to help fund government budgetary deficit.
The bank conduct a monthly debt auction in treasury bills and invite investors, including financial institutions, public sector and offshore portfolio investors to paticipate in buying the debt note.
The issuance of the treasury bill is also part of measures to to help banks manage their liquidity and control the money supply in the system to curb inflation.
0 comments:
Post a Comment