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.
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
