CBN to issue treasury bill of 1.14trn in Q2

By Olumide David

The Central Bank Nigeria (CBN) will issue a total of N1.14 trillion treasury bills in the second quarter of 2023 as the same amount will be maturing between March and May, this year.

Africa’s largest economy’s big bank disclosed this on Nigeria’s treasury bills programme released on its website during the week.

A breakdown estimation of the treasury bills programme to be issued in the next three months, which represents the amount that would mature during the same period, consists of N23.67 billion for 91-day tenor, N34.70 billion for 182-day tenor and N1.08 trillion for 364-day tenors.

The CBN issues Treasury Bills twice in a month to help the Federal Government fund its budget deficit, support banks in managing liquidity in the system and curb inflation.

Nigeria’s inflation rate increased to 21.82 per cent in January 2023, the highest since September 2005, from 21.34 per cent in the prior month.