Economy

CBN to sell N2.2trn Treasury Bills in Q4’24

Published

4 months ago

August 28, 2024

The Central Bank of Nigeria, CBN, said it would sell Treasury Bills, TBs, worth N2.2 trillion in the fourth quarter of 2024 (Q3’24).

This represents a 41 percent quarter -on-quarter (QoQ) decline when compared with N1.56 trillion sold in Q3 ’24.

CBN disclosed this today in its Nigeria Treasury Bills Issue programme for Q4’24.

Treasury Bills are short term (less than one year) debt instruments used by the CBN to borrow money from the public on behalf of the federal government. The CBN also uses TBs to control money supply in the economy.

The TB issue programme commences on September 4th, and ends on November 20th, 2024.

During the period, the apex bank will issue TBs worth N158.79 billion on 91 days tenor, N109.61 billion on 182 days and N1.94 trillion on 364 days.

A breakdown of the programme revealed that in September, the apex bank plans to sell N622.72 billion worth of TBs, comprising N54.53 billion worth of 91 days bills, N41.05 billion worth of 182 days bills and N527.14 billion worth of 364 bills.

In October, the apex bank plans to sell N456.57 billion worth of TBs, comprising N41.61 billion worth of 91 days bills, N34.66 billion worth of 182 days bills, and N380.3 billion worth of 364 days bills.

In November, the CBN plans to sell N1.12 trillion worth of TBs comprising N62.64 billion worth of 91 days bills, N33.9 billion worth of 182 days bills and N1.03 trillion worth of 384 days bills.

Economy

SEE Black Market Dollar To Naira Exchange Rate in Lagos and FCT today, 9th January 2025

Published

9 hours ago

January 9, 2025

Naijablitznews

The official naira black market exchange rate in Lagos and FCT, Abuja today including the Black Market rates, Bureau De Change (BDC), and CBN rates.

According to Bureau De Change (BDC) sources in the Ogba and Ikeja axis of Lagos state, the exchange rate for a dollar to naira at the Parallel Market (Black Market) was N1750 on Thursday, January 9th, 2024, players bought a dollar for N1750 and sold it for N1760.

Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1760 and sell it for N1770 on Thursday, January 9th, 2024.

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Lagos
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1750
Selling Rate N1760
Dollar to Naira Black Market Rate FCT, Abuja
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1760
Selling Rate N1770
Please note that the rates you buy or sell forex may differ from what is captured in this article because prices vary from state to state across Nigeria.

Economy

SEE Black Market Dollar To Naira Exchange Rate In Lagos, FCT, 4th January 2025

Published

5 days ago

January 4, 2025

Naijablitznews

Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1760 and sell it for N1770 on Saturday, January 4th, 2024.

Black Market Dollar To Naira Exchange Rate in Lagos and FCT today, 4th January 2025.

The official naira black market exchange rate in Lagos and FCT, Abuja today including the Black Market rates, Bureau De Change (BDC), and CBN rates.

According to Bureau De Change (BDC) sources in the Ogba and Ikeja axis of Lagos state, the exchange rate for a dollar to naira at the Parallel Market (Black Market) was N1750 on Saturday, January 4th, 2024, players bought a dollar for N1750 and sold it for N1760.

Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1760 and sell it for N1770 on Saturday, January 4th, 2024.

Economy

Why 1,000 workers left CBN – Cardoso

Published

6 days ago

January 4, 2025

Kayode Sanni-Arewa

The Central Bank of Nigeria has again clarified that the 1,000 staff members who opted out of service in December 2024 were not forced to quit their jobs.

The CBN Governor, Olayemi Cardoso, stated this on Friday in Abuja at an investigative hearing of the House of Representatives’ ad-hoc committee probing the circumstances leading to the exit of the staff members and how the sum of N50bn severance package for the affected persons was arrived at.

Cardoso added that the affected persons opted to disengage through the voluntary Early Exit Program with payment of full benefits.

Represented by Deputy Director, Corporate Service of the CBN, Bala Bello, Cardoso explained. “The Early Exit Program, Restructuring and Re-organization “are basically ways and means through which the performance of an organization is optimized by ensuring that round pegs are put in right holes. The manpower requirement of the bank is actually met.

“I’m very happy to mention that the early exit program of the CBN is 100 per cent voluntary. It’s not mandatory. Nobody has been asked to leave, and nobody has been forced to leave. It’s a completely voluntary programme that has been put in place.”

He also noted that the exercise was not restricted to government agencies alone, saying, “I believe several organisations across the world, and even within this country, both in terms of the private sector and the public sector, are undertaking similar exercises.”

Continuing, Cardoso said, “In the past, we had instances in which cases of stagnation and lack of career progression appear. In an organisation, you’ve got a pyramid where from each level to the next level, the gap keeps narrowing. If not, you are going to have a quasi-organisation, an inverted pyramid.

“It gets to the level where you have, for example, 30 departments in the Central Bank. You cannot have 60 directors manning 30 departments. It’s not going to work.

“Once those vacancies are filled, it gets to a level where some people, even though they are very qualified, able, and willing, but the vacancies are not there. And then they got to a level where they are stagnated for a period of time.”

Speaking earlier, the chairman of the committee, Bello Kumo, noted that the committee’s responsibility was to submit the report to the House.