FG to Borrow N1.003trn from T-Bills Investors in Q4’19 | Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper. f

0

The federal government, through the Central Bank of Nigeria (CBN), is looking to borrow the sum of N1.003 trillion from investors in the treasury bills market in the fourth quarter of 2019.

The apex bank, in its Nigerian Treasury Bills Issue Programme for Fourth Quarter 2019 released this week, said it would source for the money via the primary market auction.

According to the circular, the central bank would offer the T-bills in three maturities; 91-day, 182-day and 364-day.

A total of N90.625 billion of the 3-month debt instrument would be auctioned in the period, N90.182 billion worth of the 6-month bill would be sold and N821.845 billion worth of the 12-month tenor would be offered for sale to investors.


A further breakdown of the proposed exercise indicated that on September 11, the apex bank will conduct the first auction of the quarter, selling N15 billion, N14 billion and N129.7 billion worth of the 91-day, 182-day and 364-day treasury bills respectively.

The next week, it would offer for sale N3 billion worth of the 91-day instrument, N8.4 billion worth of the 182-day instrument and N168.4 billion worth of the 364-day instrument.

On October 2, the CBN would sell N10 billion worth of the 91-day bill, N17.6 billion worth of the 182-day bill and N106.4 billion worth of the 364-day bill and two weeks later, it would auction N5.9 billion worth of the 91-day bill, N3.5 billion worth of the 182-day bill and N112.5 billion worth of the 364-day bill and then on October 30, the bank would offer for sale N28.0 billion worth of the 91-day bill, N10.6 billion worth of the 182-day bill and N93.9 billion worth of the 364-day bill.

On November 13, the central will conduct another PMA for the sale of N4.4 billion worth of the 91-day bill, N12.9 billion worth of the 182-day bill and N107.9 billion worth of the 364-day bill and two weeks later, it would sell N24.4 billion worth of the 91-day bill, N23.2 billion worth of the 182-day bill, while N103.1 billion worth of the 364-day bill would be offered.



Signup for FREE news updates, latest information and hottest gists everyday/Advertise on NigerianEye.com

Post a Comment Default Disqus

Latest Nigerian News
Comments are Moderated. Clean Comments will be swiftly approved. No swear words, no racism, allowed.

 
xzb
Top