The Central Bank of Nigeria (CBN) has announced plans to issue N1.56 trillion worth of Treasury Bills (T-Bills) in the third quarter of 2024 (Q3’24). This marks a 4.9 percent decrease from the N1.64 trillion issued in the second quarter of 2024 (Q2’24).
The CBN revealed these details in its Nigeria Treasury Bills Issue programme. Treasury Bills are short-term debt instruments, with maturities of less than one year, used by the CBN to borrow funds on behalf of the federal government and manage the money supply in the economy.
The issuance programme will commence on June 6th and conclude on August 22nd, 2024.
During this period, the CBN will issue T-Bills totaling N170.86 billion for 91-day tenors, N189.36 billion for 182-day tenors, and N1.2 trillion for 364-day tenors.
A detailed breakdown of the issuance schedule is as follows:
- June 2024: The CBN plans to issue N494.1 billion worth of T-Bills, including N49.98 billion for 91-day bills, N63.87 billion for 182-day bills, and N380.25 billion for 364-day bills.
- July 2024: The CBN will issue N444.08 billion worth of T-Bills, with N43.61 billion for 91-day bills, N7.93 billion for 182-day bills, and N392.54 billion for 364-day bills.
- August 2024: The CBN intends to issue N626.12 billion worth of T-Bills, including N77.28 billion for 91-day bills, N117.6 billion for 182-day bills, and N431.24 billion for 364-day bills.
Understanding Treasury Bills
Treasury Bills (T-Bills) are short-term debt securities issued by the government to address budget deficits and fund various projects. In Nigeria, these instruments are issued by the Central Bank of Nigeria (CBN) on behalf of the federal government.
