CBN to mop up N863bn from circulation in three months,pls,where is this money na

BY MICHAEL EBOH

The Central Bank of Nigeria, CBN, is set to mop up a total of N863.032 billion from circulation within the next three months, with the issuance of 91-days, 182-days and one-year Treasury Bills, TBs.

The CBN, in its Treasury Bills Issue Programme for fourth quarter 2012, said it will mop up N220.052 billion from circulation through the issuance of TBs with maturities of three-month; N381.303 billion will be mopped up from circulation through the issuance of 182-days TBs , while it will issue N261.677 billion in one-year TBs.

The issuance of the Treasury Bills will commence from September 20, 2012 to December 13, 2012.

For the remaining part of September, the CBN will hold two auctions, issuing a total of N205.924 billion in TBs of different maturities. The CBN will issue N59.329 billion, N122.812 billion and N23.783 billion in 91-days, 182-days and one-year Treasury Bills.

Specifically, September 20, the CBN will issue N37.489 billion 91-days TBs and N63.731 billion 182-days TBs.

One week later, September 27, precisely, the CBN will issue 91-days TBs valued at N21.839 billion, 182-days TBs valued at N59.081 billion and one-year TBs worth N23.783 billion.

In October, the CBN will mop up a total of N282.119 billion in its twice weekly auction, selling N64.048 billion, N118.5 billion and 99.571 billion in 91-days, 182-days and one-year TBs.

The CBN, will on October 11, 2012, auction N30.159 billion 91-days TBs, N73.5 billion 182-days TBs and N68.185 billion TBs, while on October 25, it will sell N34.889 billion 91-days, N45 billion 182-days and N31.386 billion one-year TBs.

In November, the CBN will issue N62.705 billion 91-days TBs, N95 billion 182-days TBs and 88.323 billion one-year TBs, representing a total mop up of N246.028 billion.

November 8, the CBN will issue TBs totaling N129.843 billion, with the auction of N32.057 billion 91-days TBs, N50 billion 182-days TBs and N47.786 billion one-year TBs.

The CBN, will on November 22, issue N30.647 billion in 91-days TBs, N45 billion in 182-days TBs and N40.537 billion in one-year TBs, totaling N130.537 billion.

In December, the CBN will hold only one auction, selling N32.971 billion in 91-days TBs, N45 billion in 182-days TBs and N50 billion in one-year TBs, totaling N127.971 billion.

Source: Vanguard.