In the second quarter of 2024, CBN plans to offer N1.64 trillion worth of Treasury Bills for sale.
This information is detailed in the latest release of Nigeria Treasury Bills Issue program by the apex bank, which was made available today.
Treasury Bills, which are instruments for short-term debt (maturity less than one year), are utilized by the CBN to acquire funds from the 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 TB 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, along with N43.74 billion with a 182-day tenor, and N1.18 trillion with a maturity period of 364 days.
An analysis of the program 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 central 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.
