Business
FG borrows N4.72trn through treasury bills sales in Q4’25
By Elizabeth Adegbesan
As part of the Federal Government, FG’s borrowing plan for the 2025 budget, the Central Bank of Nigeria, CBN, has issued Treasury Bills, TBs, to raise N4.72 trillion in the fourth quarter of 2025 (Q4’25).
This represents a 168 percent quarter-on-quarter (QoQ) increase when compared to N1.76 trillion sold in Q3’25.
The CBN disclosed this yesterday in its Nigeria Treasury Bills Issue programme for Q4’25.
Treasury Bills are short term (less than one year) debt instruments used by the apex bank to borrow money from the public on behalf of the federal government. CBN also uses TBs to control money supply in the economy. The TB issue programme commences on October 1st, and ends on December 24, 2025.
The settlement date begins on October 2nd and ends on 18th of December, 2025.
During the period, the apex bank will issue TBs worth N700 billion on 91 days tenor, N870 billion on 182 days and N3.15 trillion on 364 days.
A breakdown of the programme revealed that in October, the apex bank issued N1.22 trillion worth of TBs, comprising N200 billion worth of 91 days bills, N220 billion worth of 182 days bills and N800 billion worth of 364 bills.
In November, the apex bank issued N1.35 trillion worth of TBs, comprising N200 billion worth of 91 days bills, N250 billion worth of 182 days bills, and N900 billion worth of 364 days bills.
In December, CBN plans to sell N2.15 trillion worth of TBs comprising N300 billion worth of 91 days bills, N400 billion worth of 182 days bills and N1.45 trillion worth of 384 days bills.
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