CBN to Rollover N1.564trn Maturing Treasury Bills in Q3
The Central Bank of Nigeria (CBN) announced on Friday its plan to re-issue N1.56 trillion in treasury bills during the third quarter of 2024, matching the amount set to mature between June and August this year.
This information was revealed in Nigeria’s treasury bills Program calendar, published on the CBN’s website on May 31, 2024. The amount to be offered in Q3 is 4.87 percent lower than N1.56 trillion issued in the second quarter of 2024.
A detailed breakdown of the upcoming treasury bills issuance shows that N170.85 billion will be allocated to 91-day tenors, N189.35 billion to 182-day tenors, and N1.20 trillion to 364-day tenors.
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. #CBN to Rollover N1.564trn Maturing Treasury Bills in Q3
