The Central Bank of Nigeria (CBN) has announced plans to sell treasury bills worth N1.64 trillion in the second quarter of 2024.
These short-term debt instruments are used by CBN to borrow money on behalf of the federal government and regulate the money supply in the economy.
The issuance program, spanning from March 7 to May 23, will include bills with tenors of 91 days, 182 days, and 364 days.
In March, the CBN intends to sell N660.62 billion worth of treasury bills, followed by N292.17 billion in April, and N688.3 billion in May.
This detailed breakdown reflects the apex bank’s strategy to manage monetary policy and meet the government’s short-term borrowing needs.
The issuance of treasury bills provides investment opportunities for individuals and institutions in the financial market while contributing to financing government expenditures. The funds raised through these sales will play a crucial role in supporting economic stability and facilitating government operations.
