CBN to sell N1.64trn Treasury bills in Q2 2024

The Central Bank of Nigeria (CBN) has said it will sell Treasury bills (TBs) worth N1.64 trillion for the second quarter of 2024 (Q2’24).

This information is contained in the latest release of the Nigeria Treasury Bills Issue Programme by the Apex Bank, which was made available on Friday to Persecondnews.

The CBN uses Treasury bills, which are instruments for short-term debt (maturity less than one year), to raise money from the general public on behalf of the federal government.

Additionally, TBs serve as a tool for the CBN to regulate the money supply within the economy.

The Treasury Bills initiative is scheduled to begin on March 7th and conclude on May 23rd, 2024.

In this time frame, the central bank plans to introduce Treasury Bills totaling N414.29 billion with a maturity period of 91 days, N43.74 billion with a 182-day tenor, and N1.18 trillion with a maturity period of 364 days.

An analysis of the programme details showed that the central bank intends to auction Treasury bills worth a total of N660.62 billion in March. This includes N32.73 billion of 91-day bills, N12.97 billion of 182-day bills, and N614.92 billion of 364-day bills.

In April, the apex bank intends to offer Treasury bills totaling N292.17 billion, with breakdowns of N10.61 billion for 91-day bills, N15.97 billion for 182-day bills, and N265.59 billion for 364-day bills.

In May, the CBN intends to offer Treasury bills with a total value of N688.3 billion, including N362.9 billion in 91-day bills, N14.7 billion in 182-day bills, and N302.67 billion in 384-day bills.