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CBN to sell N1.64 trillion treasury bill in Q2 2024
The Central Bank of Nigeria (CBN) has disclosed its intention to sell treasury bills amounting to N1.64 trillion during the second quarter of 2024.
This announcement was made through the release of the Treasury Bills Issue program on Friday.
Treasury bills, which serve as short-term debt instruments (less than one year), will be utilised by the CBN to borrow funds from the public on behalf of the Federal Government.
Additionally, the CBN will employ these instruments to regulate the money supply within the economy.
The Treasury Bills Issue program is scheduled to run from March 7 to May 23, 2024. During this period, the CBN plans to issue treasury bills with tenors of 91 days (N414.29bn), 182 days (N43.74bn), and 364 days (N1.18 trillion).
READ ALSO: CBN revokes operating licenses of 4,173 BDCs
For a detailed breakdown, in March, the CBN aims to sell N660.62 billion worth of treasury bills, including N32.73 billion of 91-day bills, N12.97 billion of 182-day bills, and N614.92 billion of 364-day bills.In April, N292.17 billion worth of treasury bills will be offered, comprising N10.61 billion of 91-day bills, N15.97 billion of 182-day bills, and N265.59 billion of 364-day bills.
Looking ahead to May, the CBN plans to sell N688.3 billion worth of treasury bills. This includes N362.9 billion of 91-day bills, N14.7 billion of 182-day bills, and N302.67 billion of 384-day bills.
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