CBN to issue N823.43bn Treasury Bills, N985.92bn to mature in Q1 2019

The Central Bank of Nigeria (CBN) will in the first quarter of 2019 issue N823.43 billion worth of Treasury Bills, while N985.93 billion will mature in the same period.

A breakdown of the Nigerian Treasury Bills issue programme for the Q1 2019 released on Tuesday by the CBN show that a total of N59.02 billion Treasury Bills for 91 days tenor, N248.84 billion for 182 days, and N678.05 billion for 364 days tenor, will hit the financial market in the first quarter.

The CBN will rollover a total of N51.45 billion for 91 days tenor, N164.91 billion for 182 days and N607.05 billion for 364 days tenor, in the same period.

Meanwhile, the CBN has continued its intervention in the inter-bank sector of the foreign exchange market by injecting another sum of $210 million into the forex market.

In the forex trading on Tuesday, January 8, 2019, the CBN injected the sum of $100 million in the wholesale segment of the market in addition to the sum of $55 million each in the Small and Medium Enterprises (SMEs) and invisibles sectors.

Isaac Okorafor, director, corporate communications department disclosed this on Tuesday and reiterated that the Bank was unrelenting in its resolve to sustain liquidity in the forex market as well as maintain stability there.

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Okorafor stressed that the CBN’s continued intervention was aimed at ensuring that the Bank meets the requests of genuine customers in the various windows of the market.

On the Bank’s restriction of access to forex for some 42 items, he said the policy would continue, particularly as it was greatly boosting local production of items on the list. He disclosed that the Economic Intelligence Unit of the CBN was working closely with relevant government agencies to checkmate any attempt to flout the policy.

Meanwhile, the United States Dollar at the rate of US$1 for N358 in the Bureau De Change (BDC) segment of the market on Tuesday, January 8, 2019.

HOPE MOSES-ASHIKE

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.