In line with its restrictive monetary policy stance, the Central Bank of Nigeria (CBN) has said it will issue treasury bills worth a total of N730.499 billion in the second quarter of this year.
A breakdown of the Nigeria treasury bills issue programme obtained at the weekend showed that the proposed debt instrument to be issued have tenors of between 91-day, 182-day and one-year.
According to the calendar, the central bank would issue a total of N154.337 billion of 91-day treasury bills between April and June 2015. Also, while a total of N152.748 billion of 182-day instruments would also be issued in the second quarter, N423.414 billion one-year bills would be sold by the regulator in the same period.
On the other hand, treasury bill of same tenors and value would also mature in the second quarter, as part of measures to effectively manage the volume of liquidity in the system.
Treasury bills are short-term debt obligation with a maturity of less than one year. They are issued by the CBN through a competitive bidding process bi-monthly.
Source: Thisdaylive
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