In the third quarter of 2025, the government plans to raise N1.76 trillion by selling treasury bills.

To support its borrowing strategy for the 2025 budget, the Central Bank of Nigeria (CBN) has begun issuing Treasury Bills (TBs) aiming to collect N1.76 trillion in the third quarter of 2025 (Q3’25).

According to the Debt Management Office (DMO), this reflects a 12.8 percent increase compared to the N1.56 trillion TBs issued in Q3’24.

Yesterday, the CBN announced details of its Nigeria Treasury Bills Issue program for Q3’25.

Treasury Bills are short-term financial tools, lasting less than a year, that the central bank uses to borrow funds from the public for the federal government.

The CBN also employs TBs as a means to regulate the money supply in the economy.

The TB issuance period will run from July 2 to September 24, 2025.

Settlement dates are set from July 3 to September 25, 2025.

During this timeframe, the apex bank intends to issue TBs worth N340 billion with a 91-day maturity, N230 billion with a 182-day maturity, and N1.19 trillion for a 364-day maturity.

A detailed schedule shows that in July, the CBN plans to release N540 billion in TBs, which will include N150 billion worth of 91-day bills, N40 billion worth of 182-day bills, and N350 billion worth of 364-day bills.

For August, the CBN's plan involves selling N450 billion worth of TBs, divided into N110 billion for 91-day bills, N50 billion for 182-day bills, and N290 billion for 364-day bills.

In September, the bank aims to offer TBs totaling N770 billion, featuring N80 billion in 91-day bills, N140 billion in 182-day bills, and N550 billion in 364-day bills.