The Central Bank of Nigeria has announced its plan to sell N1.64 trillion worth of treasury bills in the second quarter of 2024, according to the Treasury Bills Issue programme released on Friday.
Treasury bills are short-term debt instruments used by the CBN to borrow money from the public on behalf of the Federal Government and to control money supply in the economy.
The TB issue programme will run from March 7 to May 23, 2024, with the apex bank issuing TBs worth N414.29 billion on a 91-day tenor, N43.74 billion on a 182-day tenor, and N1.18 trillion on a 364-day tenor.
In March, the CBN plans to sell N660.62 billion worth of TBs, including N32.73 billion worth of 91-day bills, N12.97 billion worth of 182-day bills, and N614.92 billion worth of 364-day bills.
For April, the apex bank plans to sell N292.17 billion worth of TBs, comprising N10.61 billion worth of 91-day bills, N15.97 billion worth of 182-day bills, and N265.59 billion worth of 364-day bills.
In May, the CBN aims to sell N688.3 billion worth of TBs, including N362.9 billion worth of 91-day bills, N14.7 billion worth of 182-day bills, and N302.67 billion worth of 384-day bills.
This move by the Central Bank of Nigeria is crucial in managing the country’s economy and ensuring financial stability.
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