CBN to Issue N722.17 Billion Treasury Bills in Third-Quarter 2021

The Central Bank of Nigeria (CBN) is looking to raise the sum of N722.17 billion in cash through the sales of treasury bills in the third quarter of 2021.

Nigeria's apex bank made this known through its treasury bill programme for Q3 2021, between June and August 2021.

Treasury bills are short term debt instruments used by the central bank to borrow money from the public on behalf of the federal government. The apex bank also uses treasury bills to control the money supply in the economy.

According to the disclosure, a sum of N41.36 billion will be issued for the 91-day maturity period, N151.13 billion for the 182 days, while N529.68 billion for the 364 days maturity period, summing up to a total of N722.17 billion.

The apex bank said that the TBs would be issued in tranches with the first tranche rolled out on June 3, 2021, while the last tranche is scheduled for August 28, 2021.

The report also shows that the offer amounts are subject to further changes at short notice and 1 unit of Nigerian Treasury Bills amounts to N1,000.

It is worth noting that the CBN sells treasury bills on a bi-weekly basis to investors and is one of the safest investments available. Interests are paid upfront and the principal paid in full upon maturity. This is a safe haven for passive investors who are looking to make additional income but with a very low-risk appetite.