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Nigeria’s Central Bank To sell N1.64 trillion in Treasury bills in Q2 2024

Boom RadioNG | February 28, 2024

The Central Bank of Nigeria (CBN) has planned to sell Treasury Bills worth N1.64 trillion in the second quarter of 2024 between the months of March and May. The new offer is a refinancing of existing maturing treasury bills of different tenures.

According to the treasury bill issue program, the apex bank will be refinancing its 91-day, 182-day, and 364-day treasury bills that mature during the period.

For the 91 days treasury bills, the central bank hopes to raise N414.28 billion while for the 182 days T-bills it plans to sell N43.74 billion and for the 364 days T-bills, it plans to sell N1.183 trillion worth of treasury bills.

CBN Governor, Mr. Olayemi Cardoso at the National Assembly on Tuesday, September 26, 2023.
photo credit: CBN

Furthermore starting from March, the CBN plans to sell N822.63 billion worth of treasury bills, for April, it plans to raise N292.20 billion worth of T-bills and for May it wants to sell N388.33 billion worth of treasury bills.

The federal government through CBN issues Treasury bills, which are short-term financial obligations, as a means to gather funds for covering the government’s budget shortfalls.

 

Dolupo Balogun

Written by Boom RadioNG

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