ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, October 8, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
ADVERTISEMENT
Home Economy And Business

Olayemi Cardoso To Sale N1.64 Trillion CBN Treasury Bills From March To May

In March, the CBN plans to sell N822.63 billion worth of treasury bills while for April, it plans to raise N292.20 billion worth of T-bills and for May it wants to sell N388.33 billion worth of treasury bills.  

by NewsOnline Nigeria
February 29, 2024
in Economy And Business, Top Stories
0
Cardoso

Yemi Cardoso

Olayemi Cardoso chaired CBN is set to commence the sale of N1.64 Trillion in Treasury Bills from March to May.

 

NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has planned to sell N1.64 trillion in Nigeria Treasury Bills in the second quarter of 2024- March and May. The new offer is a refinancing of existing maturing treasury bills of different tenures.  

 

According to the bill issue program, the apex bank will be refinancing its 91-day, 182-day, and 364-day treasury bills that mature during the period.  

 

ALSO: Nestle Nigeria Shareholders’ Funds Wiped Out Over N104 Billion Loss

 

Details of the program 

For the 91 days treasury bills, the central bank hopes to raise N414.28 billion while for the 182 days T-bills it plans to sell N43.74 billion and for the 364 days T-bills, it plans to sell a whopping N1.183 trillion worth of treasury bills

In March, the CBN plans to sell N822.63 billion worth of treasury bills while for April, it plans to raise N292.20 billion worth of T-bills and for May it wants to sell N388.33 billion worth of treasury bills.  

Backstory  

Last week, the CBN sold N1.58 trillion worth of T-bills to the investing public at a 19% interest rate to mop up excess liquidity in the financial system. All tenors of its last auction were oversubscribed- a clear sign of the voracious appetite of investors in the security.  

About Treasury Bills  

The Nigerian government issues Treasury bills, which are short-term financial obligations, through the Central Bank of Nigeria (CBN) as a means to gather funds for covering the government’s budget shortfalls.

These bills are presented as an investment opportunity within Nigeria, offering a low-risk option for investors. 

To address the issue of excess liquidity and ongoing inflation within the nation, the central bank utilizes Treasury bills. 

Furthermore, the central bank may opt to increase the interest rates on Treasury bills, particularly those with a one-year term, as a strategy to mitigate inflation.

Nigeria’s inflations currently stand at a 27-year high of 29.90% with the CBN raising MPR to 22.75% targeted at taming inflation.

ADVERTISEMENT
Previous Post

Nestle Nigeria Shareholders’ Funds Wiped Out Over N104 Billion Loss

Next Post

BREAKING: Binance Disables Naira P2P Market Feature

Next Post
Binance

BREAKING: Binance Disables Naira P2P Market Feature

Trending Stories

No Content Available

Latest Stories

Minister Geoffrey Nnaji

BREAKING: Minister Geoffrey Nnaji Resigns Amid Certificate Forgery Controversy

INEC Chairman Mahmood Yakubu

BREAKING: INEC Chairman Mahmood Yakubu Resigns After 10 Years in Office

President Trump

President Trump to Host Historic UFC Event at the White House on His 80th Birthday

Wike

Wike Confirms Implementing Tinubu’s Vision to Make Abuja Compete with Global Cities

Arewa Consultative Forum southwest chapter's executive committee members

ACF Southwest Chapter Re-Elects Executives for Second Term After Vote of Confidence in Ogbomoso

Cooking Gas Price

BREAKING: Cooking Gas Price Soars To All Time Record High Amid Scarcity

May Edochie Reveals She Met Yul at a GCE Centre

Daddy Freeze Reveals He Married His Ex-Wife Because She Got Pregnant

2025 U-20 World Cup: Sani Says Determination Helped Flying Eagles Secure Draw Against Colombia

Seyi Shay: Wizkid Showed Me How to Navigate the Music Industry

ADVERTISEMENT

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: [email protected]

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria