The Central Bank of Nigeria, CBN, on Friday said it would sell Treasury Bills, TBs, worth N1.64 trillion in the second quarter 2024.
This is according to the apex bank’s Nigeria Treasury Bills Issue programme.
Treasury Bills are short term (less than one year) debt instruments the CBN uses to borrow money from the public on behalf of the federal government.
The CBN also uses TBs to control money supply in the economy and will commence on March 7th, and ends on May 23rd, 2024.
During the period, the apex bank will issue TBs worth N414.29 billion on 91 days tenor, N43.74 billion on 182 days and N1.18 trillion on 364 days.
This means that the CBN plans to sell N660.62 billion worth of TBs by March, comprising N32.73 billion worth of 91 days bills, N12.97 billion worth of 182 days bills and N614.92 billion worth of 364 bills.
Byn April, the apex bank plans to sell N292.17 billion worth of TBs, comprising N10.61 billion worth of 91 days bills, N15.97 billion worth of 182 days bills, and N265.59 billion worth of 364 days bills.
In May, the CBN plans to sell N688.3 billion worth of TBs comprising N362.9 billion worth of 91 days bills, N14.7 billion worth of 182 days bills and N302.67 billion worth of 384 days bills.
Alleluia is the Assistant Editor and Content Writer at LagosPost.ng. She is a prolific writer and editor, she has written features and news stories on Lifestyle, Sports, Business, Politics and B2B marketing. She is also an event coordinator, host and social media content creator.
