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FG to borrow N823b through treasury bills in Q1’19


By Elizabeth Adegbesan

The federal government will borrow N823 billion from the domestic economy in the first quarter of the year (Q1’19) through treasury bills to be issued by the Central Bank of Nigeria (CBN).



Debt

The CBN disclosed this in its treasury bills (TB) issuance programme for    Q1’19 released yesterday.

The fresh TBs to be issued during the quarter comprise N51.5 billion worth of 91-Days TBs, N164.9 billion worth of 182-Days TBs and N607.1 billion worth of 364-Days TBs.

Vanguard analysis showed that from January 3rd  to January 31st  the CBN will issue N555.02 billion worth of TBs comprising N23.8 billion worth of 91-Days bills, N116.16 billion worth of 182-Days bills and N415.06 billion worth of 364-Days bills.

In February, the apex bank will issue N268.7 billion worth of TBs comprising N27.8 billion worth of 91-Days bills, N48.8 billion worth of 182-Days bills and N192.1 billion worth of 364-Days bills.

But the amount of fresh TBs to be issued is N84.87 billion less than the N907.87 billion worth of TBs that will mature and be repaid during the period, reflecting the FG’s decision to reduce domestic borrowing in favour of foreign borrowing.

The maturing TBs comprise N59 billion worth of 91-Days TBs, N248.8 billion worth of 182-Days TBs and N678.1 billion worth of 364-Days TBs.

Source:https://samueljackson12.blogspot.com/2019/01/fg-to-borrow-n823b-through-treasury.html

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