The Central Bank of Nigeria, CBN, said it would sell Treasury Bills, TBs, worth N2.2 trillion in the fourth quarter of 2024 (Q3’24).

This represents a 41 percent quarter -on-quarter (QoQ) decline when compared with N1.56 trillion sold in Q3 ’24.

CBN disclosed this today in its Nigeria Treasury Bills Issue programme for Q4’24.

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 September 4th, and ends on November 20th, 2024.

During the period, the apex bank will issue TBs worth N158.79 billion on 91 days tenor, N109.61 billion on 182 days and N1.94 trillion on 364 days.

A breakdown of the programme revealed that in September, the apex bank plans to sell N622.72 billion worth of TBs, comprising N54.53 billion worth of 91 days bills, N41.05 billion worth of 182 days bills and N527.14 billion worth of 364 bills.

In October, the apex bank plans to sell N456.57 billion worth of TBs, comprising N41.61 billion worth of 91 days bills, N34.66 billion worth of 182 days bills, and N380.3 billion worth of 364 days bills.

In November, the CBN plans to sell N1.12 trillion worth of TBs comprising N62.64 billion worth of 91 days bills, N33.9 billion worth of 182 days bills and N1.03 trillion worth of 384 days bills.