CBN to sell 1.64 trillion Norwegian Treasury bills in second quarter

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The Central Bank of Nigeria plans to sell Treasury Bills worth N1.64 trillion in the second quarter of 2024.

The apex bank disclosed this on Friday at the Nigerian Treasury Bill Issuance Programme.

The TB Issuance Program will begin on March 7, 2024 and end on May 23, 2024.

In the reference period, the apex bank will issue TB worth N414.29 billion with a 91-day term, N43.74 billion with a 182-day term and N1.18 trillion with a 364-day term.

According to a breakdown of the program, the apex bank plans to sell 660.62 billion naira worth of TBs in March, including 91-day notes of 32.73 billion naira, 182-day notes of 12.97 billion naira, and 614.92 billion naira. It was revealed that it was worth 10,000 naira. 364 banknotes.

In April, the Apex Bank issued a total of 292.17 billion Naira, consisting of 91-day notes worth 10.61 billion Naira, 182-day notes worth 15.97 billion Naira, and 364-day notes worth 265.59 billion Naira. The company plans to sell its TBs.

In May, the CBN plans to sell TB worth N688.3 billion, consisting of 91-day tickets worth N362.9 billion, 182-day tickets worth N14.7 billion, and 384-day tickets worth N302.67 billion. be.

Treasury bills are short-term (less than one year) debt instruments used by the CBN to borrow funds from the public on behalf of the federal government.

DAILY POST recalls that Nigeria's 2024 budget of N28.7 trillion had a deficit of N9 trillion.

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Source: dailypost.ng