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The Central Bank of Nigeria (CBN) has disclosed its intention to conduct the sale of treasury bills amounting to N1.64 trillion during the second quarter of 2024, according to the Treasury Bills Issue programme released on Friday.
Treasury bills, being short-term debt instruments with tenors of less than one year, serve as a means for the CBN to raise funds from the public on behalf of the Federal Government, while also enabling the central bank to regulate the money supply in the economy.
The TB issue programme is scheduled to commence on March 7 and will conclude on May 23, 2024. Throughout this period, the CBN plans to issue treasury bills as follows:
- 91 days tenor: N414.29 billion
- 182 days tenor: N43.74 billion
- 364 days tenor: N1.18 trillion
Breaking down the quarterly programme, in March, the CBN aims to sell N660.62 billion worth of TBs, encompassing N32.73 billion in 91 days bills, N12.97 billion in 182 days bills, and N614.92 billion in 364 days bills.
For April, the central bank has outlined the sale of N292.17 billion worth of TBs, comprising N10.61 billion in 91 days bills, N15.97 billion in 182 days bills, and N265.59 billion in 364 days bills.
Moving into May, the CBN’s plan involves selling N688.3 billion worth of TBs, which includes N362.9 billion in 91 days bills, N14.7 billion in 182 days bills, and N302.67 billion in 364 days bills.
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