The Central Bank of Nigeria (CBN) has announced plans to sell Treasury Bills (TBs) worth N2.2 trillion in the fourth quarter of 2024.
This marks a significant 41 percent quarter-on-quarter (QoQ) decline compared to the N1.56 trillion sold in the third quarter of 2024.
The CBN disclosed this in its Nigeria Treasury Bills Issue programme for Q4 2024, released on Tuesday.
Treasury Bills are short-term debt instruments, typically maturing in less than one year, which the CBN uses to borrow money from the public on behalf of the federal government.
These instruments are also a key tool for controlling the money supply within the economy.
According to the CBN, the TB issuance programme will commence on September 4 and conclude on November 20, 2024.
During this period, the apex bank plans to issue TBs worth N158.79 billion on a 91-day tenor, N109.61 billion on a 182-day tenor, and N1.94 trillion on a 364-day tenor.
Breaking down the programme, the CBN plans to sell N622.72 billion worth of TBs in September alone.
This includes N54.53 billion in 91-day bills, N41.05 billion in 182-day bills, and N527.14 billion in 364-day bills.
In October, the bank will issue TBs valued at N456.57 billion, comprising N41.61 billion in 91-day bills, N34.66 billion in 182-day bills, and N380.3 billion in 364-day bills.
For November, the CBN has outlined plans to sell N1.12 trillion worth of TBs.
This includes N62.64 billion in 91-day bills, N33.9 billion in 182-day bills, and a substantial N1.03 trillion in 364-day bills.
The issuance of Treasury Bills is a crucial mechanism for the CBN to manage liquidity in the financial system, ensuring that inflation remains within targeted levels and stabilizing the naira against foreign currencies.
