The Nigerian government issues Treasury bills, which are short-term financial obligations, through the Central Bank of Nigeria (CBN) as a means to gather funds for covering the government’s budget shortfalls
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The Central Bank of Nigeria (CBN) uncovered plans to sell Treasury Bills, TBs, worth N1.64 trillion for the second quarter 2024, Q2’24.
This is contained in the apex bank’s Nigeria Treasury Bills
Issue programme released today.
Treasury Bills are short term (less than one year) debt
instruments used by the CBN to borrow money from the public on behalf of the
federal government. The CBN also uses TBs to control money supply in the
economy.
The TB issue programme commences on March 7th, and ends on
May 23rd, 2024.
During the period, the apex bank will issue TBs worth
N414.29 billion on 91 days tenor, N43.74 billion on 182 days and N1.18 trillion
on 364 days.
A breakdown of the programme revealed that in March, the
apex bank plans to sell N660.62 billion worth of TBs, comprising N32.73 billion
worth of 91 days bills, N12.97 billion
worth of 182 days bills and N614.92 billion worth of 364 bills.
In April, the apex bank plans to sell N292.17 billion worth
of TBs, comprising N10.61 billion worth of 91 days bills, N15.97 billion worth
of 182 days bills, and N265.59 billion worth of 364 days bills.
In May, the CBN plans to sell N688.3 billion worth of TBs
comprising N362.9 billion worth of 91
days bills, N14.7 billion worth of 182 days bills and N302.67 billion worth of
384 days bills.
What is Treasury bills
Treasury bills or T-Bills are short-term debt securities
issued by the government to make up for budget deficit and fund projects.
In Nigeria, T-Bills are issued by the Central Bank of
Nigeria (CBN) on behalf of the federal government.
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