The Central Bank of Nigeria, CBN, has slated Treasury Bills, TBs, sales worth N1.13 trillion in the second quarter of 2023.

This is contained in the apex bank’s latest Nigeria Treasury Bills Issue programme released today.

TBs are short term debt instruments used by CBN to borrow money from the public on behalf of the federal government. The apex bank also uses TBs to control money supply in the economy.

The TBs will be issued in tranches with the first tranche rolled out on March 9, 2023, while the last tranche is scheduled for May 11th, 2023.

During the period, the apex bank will issue TBs worth N23.67 billion on 91 days tenor, N34.7 billion on 182 days and N 1.08 trillion on 364 days.

A breakdown of the programme revealed that in March, the apex bank plans to sell N531.74 billion worth of TBs, comprising N4.28 billion worth of 91 days bills, N14.8 billion worth of 182 days bills, and N512.66 billion worth of 364 days bills.

In April, CBN plans to sell N280.98 billion worth of TBs comprising N4.8 billion worth of 91 days bills, N12.62 billion worth of 182 bills and N263.56 billion worth of 364 days bills.

In May, the regulator plans to sell N324.36 billion worth of TBs comprising N14.48 billion worth of 91 days bills, N7.2 billion worth of 182 bills and N302.68 billion worth of 364 days bills.