THERE are expectations that the Central Bank of Nigeria (CBN) will conduct a mop-up of liquidity as Open Market Operation (OMO) maturities of N50.0 billion and coupon payments of N52.8 billion hit the system this week.
Nevertheless, dealers expect rates to trade at a similar band, just as the CBN, said it will sell N570 billion worth of Treasury Bills (TBs) in the second quarter of 2021 (Q2’21).
The apex bank disclosed this in its Nigeria Treasury Bills Issue Programme for Q2’21 released recently. TBs are short term debt instruments used by CBN to borrow money from the public on behalf of the federal government. The apex bank also uses TBs to control money supply in the economy. The TBs would be issued in tranches with the first tranche rolled out on March 11, 2021, while the last tranche is scheduled for May 27, 2021.
During the period, the apex bank will issue TBs worth N92.05 billion on 91 days tenor, N79.64 billion on 182 days and N398.7 billion on 364 days. A breakdown of the programme revealed that in March, the apex bank plans to sell N135.96 billion worth of TBs, comprising N5.9 billion worth of 91 days bills, N22.39 billion worth of 182 days bills, and N107.67 billion worth of 364 days bills.
In April, CBN plans to sell N253.68 billion worth of TBs comprising N37.29 billion worth of 91 days bills, N28.1 billion worth of 182 bills and N188.29 billion worth of 364 days bills. In May, CBN plans to sell N170.71 billion worth of TBs comprising N48.84 billion worth of 91 days bills, N29.15 billion worth of 182 bills and N92.72 billion worth of 364 days bills.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
COVID-19: Nigeria Close To ‘Flattening The Curve’ ― Analysis
Nigeria may be close to flattening the curve of the COVID-19 pandemic as confirmed cases in the country keep dropping weekly, Tribune Online analysis has shown. This is even as the much-expected COVID-19 vaccines arrived in Abuja, the Federal Capital Territory last Tuesday…
Inside Ibadan Bound Train From Lagos
The train started the 156.65 kilometres journey to Lagos at exactly 08:00hrs. The pace of its acceleration was minimal.
At about 25 minutes, the train slowed down at the uncompleted Omi-Adio terminal, a village on the Abeokuta/Ibadan expressway; it’s a stone throw from Apata in Ibadan. Conveyance of passengers from there and other terminals has not kickstarted as the terminals are still under construction and workers were found there…
Killer Herdsmen: Untold Story Of Ibarapa’s Worst Nightmare + VIDEOS
“Please do not talk to my father. He is yet to come to terms with the death of his son. It is a most tragic experience. How does one quantify the loss of a dear brother? My brother was killed like an animal by two herdsmen. His offence was that he asked them to drive their cows off his already cultivated farmland,” Bisi Olaosepin, whose brother was hacked to death, struggled to hold back his tears as he relayed to Sunday Tribune the horrible experience that culminated in the passage of his brother…
Rays of the afternoon sun pelted her head as she fanned the embers beneath the half-cut iron drum with the smoke permeating the air. “This smoke is unbearable, Iya Maria,” said one of the three neighbours conversing under a makeshift shed about five meters away. Their voices rose and fell intermittently…