The Central Bank of Nigeria has announced plans to auction treasury bills totaling N1.64 trillion for the second quarter of 2024.
This information was disclosed in the Treasury Bills Issue program released on Friday.
Treasury bills, which are short-term debt instruments with maturities of less than one year, serve as a means for the CBN to raise funds from the public on behalf of the Federal Government.
Additionally, the CBN utilizes treasury bills to manage the money supply within the economy.
The programme commences on March 7 and ends on May 23, 2024.
During the period, the apex bank will issue TBs worth N414.29bn on 91 days tenor, N43.74bn on 182 days, and N1.18trn on 364 days.
A breakdown of the programme revealed that in March, the apex bank plans to sell N660.62bn worth of TBs, comprising N32.73bn worth of 91 days bills, N12.97bn worth of 182 days bills, and N614.92bn worth of 364 bills.
In April, the apex bank plans to sell N292.17bn worth of TBs, comprising N10.61bn worth of 91 days bills, N15.97bn worth of 182 days bills, and N265.59bn worth of 364 days bills.
In May, the CBN plans to sell N688.3bn worth of TBs comprising N362.9bn worth of 91 days bills, N14.7bn worth of 182 days bills, and N302.67bn worth of 384 days bills.