Connect with us

Headlines

CBN to sell Treasury Bills worth N1.64trn in Q2

Published

on

Depleted foreign reserves used to settle obligations, not to defend naira - CBN gov

The Central Bank of Nigeria (CBN) says it would sale Treasury Bills worth N1.64 trillion for the second quarter 2024.

The apex bank in its Nigeria Treasury Bills Issue programme released today, said the issue programme commences on March 7th, and ends on May 23rd, 2024.

The CBN will during the period, issue TBs worth N414.29 billion on 91 days tenor, N43.74 billion on 182 days and N1.18 trillion on 364 days.

News continues after this Advertisement

A breakdown of the programme revealed that in March, the apex bank plans to sell N660.62 billion worth of TBs, comprising N32.73 billion worth of 91 days bills, N12.97 billion worth of 182 days bills and N614.92 billion worth of 364 bills.

In April, the apex bank plans to sell N292.17 billion worth of TBs, comprising N10.61 billion worth of 91 days bills, N15.97 billion worth of 182 days bills, and N265.59 billion worth of 364 days bills.

In May, the CBN plans to sell N688.3 billion worth of TBs comprising N362.9 billion worth of 91 days bills, N14.7 billion worth of 182 days bills and N302.67 billion worth of 384 days bills.

Treasury Bills are short term (less than one year) debt instruments used by the CBN to borrow money from the public on behalf of the federal government. The CBN also uses TBs to control money supply in the economy.

News continues after this Advertisement
News continues after this Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *