In line with the amount scheduled to mature between June and August of this year, the Central Bank of Nigeria (CBN) said on Friday that it would reissue N1.56 trillion in Treasury bills during the third quarter of 2024.
Nigeria’s Treasury Bills Program calendar, which was posted on the CBN website on May 31, 2024, disclosed this information. In comparison to the N1.56 trillion issued in the second quarter of 2024, the amount to be given in Q3 is 4.87 percent less.
According to a thorough analysis, N179.35 billion will go toward 182-day tenors, N1.20 trillion toward 364-day tenors, and N170.85 billion toward 91-day tenors in the impending treasury bill issuance.
The CBN conducts bi-monthly treasury bills issuances to help Federal Government finance its budget deficit, assist banks in managing system liquidity, and curb inflation. In April 2024, Nigeria’s inflation rate rose to 33.69 percent, the highest since September 2005, up from 33.20 percent in the previous month, according to CBN data.
