By Akinsuroju Olubunmi
CBNPlans to auction N1.64 trillion in Treasury bills for Q2’2.
The Central Bank of Nigeria (CBN) has announced its intention to auction Treasury Bills (TBs) worth N1.64 trillion in the second quarter of 2024, according to the latest Nigeria Treasury Bills Issue programme released today.
TBs are short-term debt instruments utilized by the CBN to borrow funds from the public on behalf of the federal government, aiding in controlling the money supply in the economy. The issuance program is scheduled to commence on March 7th and conclude on May 23rd, 2024.
During this period, the CBN will offer TBs valued at N414.29 billion for a 91-day tenor, N43.74 billion for a 182-day tenor, and N1.18 trillion for a 364-day tenor.
Breaking down the program, in March, the apex bank aims to sell TBs valued at N660.62 billion, with N32.73 billion for 91-day bills, N12.97 billion for 182-day bills, and N614.92 billion for 364-day bills.
Moving to April, the CBN targets to auction N292.17 billion in TBs, comprising 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 auction N688.3 billion worth of TBs, including N362.9 billion for 91-day bills, N14.7 billion for 182-day bills, and N302.67 billion for 364-day bills.
Treasury bills, often referred to as T-Bills, serve as short-term debt securities issued by the government to bridge budget deficits and finance projects. In Nigeria, T-Bills are issued by the Central Bank of Nigeria (CBN) on behalf of the federal government.
Treasury Bills, Central Bank of Nigeria