Author Topic: Fed Govt To Redeem N482b T-Bills In Q2  (Read 12162 times)

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Fed Govt To Redeem N482b T-Bills In Q2
« on: March 15, 2018, 08:40:43 AM »
Federal Government plans to repay N482 billion of treasury bills (T-Bills) in the second quarter of this year.

The regulator will also  halve the amount it wants to raise between March and May to lower borrowing costs, according to debt auction calendar seen released yesterday.

A total of N964 billion worth of bills fall due in the second quarter, of which the government plans to roll over N482 billion. News of those plans sent yields down 0.4 per cent on the secondary market on Wednesday, traders said.

Nigeria sold a $2.5 billion Eurobond in February to help refinance naira-denominated treasury bills at a lower borrowing cost. The debt office said on Wednesday it would repay the bills in phases as they mature. The 91-day bill shed 0.4 per cent to 13.8 per cent on Wednesday.

The T-bills? maturities range between three months and a year and would be raised today, according to the CBN. T-bills are marketable short-term money market securities that serve the purpose of raising money for the government and also help in monetary policy management of the CBN.

Also, the Central Bank of Nigeria (CBN) yesterday issued new guidelines on the operation of direct debit schemes.

The new rule  is in line with the exercise of the powers conferred on the apex bank under Sections 2(d), 33 (1)(b) and 47(2) of the CBN Act 2007 to promote sound financial system in Nigeria, issue guidelines and facilitate the development of an efficient and effective payments system in Nigeria, the CBN hereby issues this Regulation for Direct Debits Schemes in Nigeria, 2017.

This regulation recognises the existing and emerging multi-channel options such as online platforms, Instant Payments among others applied for direct debit instructions in Nigeria. In addition, the provisions of the regulation are harmonized with developments in the payments system since the release of the previous version.


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Fed Govt To Redeem N482b T-Bills In Q2
« on: March 15, 2018, 08:40:43 AM »


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