The Central Bank of Nigeria (CBN) will auction treasury bills worth N821.797 billion with varying tenors in the third quarter of this year, its issue programme released on Thursday has revealed.
Essentially short-term investment securities issued by a government to finance national borrowing requirements, treasury bills often mature in one year and, in Nigeria’s case, sold at N1,000 per unit.
Treasury bills estimated at N109.65 billion will be issued by the central bank for a 91-day tenor while those maturing in 182 days are valued at N149.44 billion.
The third category totalling N562.71 billion has a tenor of 364 days.
N105.6 billion worth of treasury bills made up of N3.8 billion bills maturing in 91 days, N6.5 billion bills falling due in 182 days, and N95.3 billion bills with a tenor of 364 days are scheduled for June.
The July programme amounts to N461.9 billion with N65.7 billion worth of 91-day bills, N101.19 billion worth of 182-day bills and N295 billion worth of 364-day bills.
The apex plan proposes to sell treasury bills estimated at N254.38 billion in August. it is divided into 91-day bills totalling N40.15 billion, 182-day bills worth N41.75 billion and 384-day bills valued at N172.48 billion.