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CBN to borrow N166.1 bln from public via Treasury bills

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By Samuel Bankole

The Central Bank of Nigeria (CBN) is set to auction N166.1 billion in Nigerian Treasury Bills (NT bills) on Thursday as part of its strategic monetary operations.

The regulatory bank will offer N27.11 billion for the 91-day tenor, N1.49 billion for the 182-day tenor, and a substantial N137.50 billion for the 364-day tenor at the auction.

This move aligns with the CBN’s broader plan to issue N1.56 trillion in Treasury bills during the third quarter of 2024.

This issuance mirrors the total amount set to mature between June and August of this year, ensuring a seamless rollover of debt.

The Nigerian economy has been navigating through a series of fiscal and monetary adjustments, influenced by global economic shifts and domestic challenges.

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The issuance of NT bills is a critical tool for the CBN to manage liquidity, control inflation, and stabilize the Naira.

By adjusting the volume and tenor of these bills, the CBN aims to influence the money supply and interest rates, thereby guiding the economy toward desired macroeconomic outcomes.

In recent quarters, the CBN has been proactive in its monetary policy, aiming to balance growth and stability.

The strategic issuance of Treasury bills is a testament to its ongoing efforts to maintain economic equilibrium, especially in the face of external pressures such as fluctuating oil prices and global financial market volatility.

The upcoming auction is anticipated to attract substantial interest from both domestic and international investors, given the CBN’s robust reputation and Nigeria’s status as Africa’s largest economy.

Investors will be keen to analyze the yields offered, which reflect the government’s creditworthiness and the broader economic outlook.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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