CBN to issue N821.8bn treasury bills in Q3 2020

The CBN will issue a total of N821.8 billion worth of Treasury Bills in the third quarter of 2020 as the same amount will be maturing between June and August this year.

The CBN stated this in the Nigerian Treasury Bills issuance programme calendar released on Thursday.

A breakdown of the Nigerian T-bills programme to be issued in the next three months of year 2020, which represents the amount that will mature during the period, consists of a total of N109.6 billion for 91 days tenor, N149.4 billion for 182 days tenor and N562.7 billion for 364 days tenors.

The CBN issues Treasury Bills twice in a month to help the Federal Government fund its budget deficit, support banks in managing liquidity in the system and curb inflation.

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Nigeria’s annual inflation rate rose to 12.34 percent in April 2020, the highest since April 2018, from 12.26 percent in the previous month.

The local currency weakened by N0.37k at the Investors and Exporters (I&E) forex window as the dollar was quoted at N386.70k on Thursday compared to N386.33k quoted on Wednesday, data from FMDQ showed.

The foreign exchange daily turnover rose by 244.97 percent to $85.00 million on Thursday from $24.64 million on Wednesday at the I&E window.

At the black market, Naira lost N1.00k after the dollar closed at N444 on Thursday as against N443 opened with in the morning.

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.