Overview
The Central Bank of Nigeria (CBN) has announced an upcoming auction of N166.1 billion in Nigerian Treasury Bills (NT-Bills) scheduled for Thursday. This auction is part of the CBN’s efforts to manage liquidity and provide investment opportunities in the financial markets.
Breakdown of the Auction
The auction will feature NT-Bills across three different tenors:
- 91-Day Tenor: N27.11 billion
- 182-Day Tenor: N1.49 billion
- 364-Day Tenor: N137.50 billion
Q3 2024 Issuance Plan
The CBN’s plan for the third quarter of 2024 includes issuing a total of N1.56 trillion in Treasury bills. This issuance matches the amount set to mature between June and August 2024, ensuring that the liquidity in the financial system remains balanced.
Comparison with Q2 2024
The amount to be offered in Q3 2024 is slightly lower than the amount issued in Q2 2024, with a decrease of 4.87%. In the second quarter, the CBN issued N1.56 trillion in Treasury bills, indicating a strategic adjustment in the issuance volume for the third quarter.
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Conclusion
The upcoming auction and the overall issuance plan for Q3 2024 reflect the CBN’s ongoing efforts to manage the country’s monetary policy and financial stability. Investors and financial market participants will be closely monitoring these auctions for opportunities to invest and for indications of the central bank’s policy direction.