Zenith Bank Plc has said it expects the volume of Nigerian Treasury Bills (NTBs) issuance to reduce in the short to medium term. This was disclosed in the tier-1 bank’s weekly economic intelligence report that was published earlier today.
The report is coming just days after the Central Bank of Nigeria (CBN) released its Treasury Bills calendar for the third quarter (Q3) of 2020.
The Bank calendar showed the apex bank’s projection to raise about N822 billion between June and August this year.
Some 91-day tenured bills valued at N109.65 will be auctioned, along with 182-days bills worth N149.44 billion and another set of 364-days instrument worth N562.71 billion.
Zenith Bank’s reason for the projected reduction is because of the Federal Government’s decision to reduce the issuance of short-term financial instruments.