The Central Bank of Nigeria (CBN) today is offering N450 billion worth of Nigerian Treasury Bills (NTBs) for auction with the settlement date scheduled for tomorrow.
The apex bank’s circulated to Primary Money Market Dealers (PMMD) on the debt instrument offer indicated that the auction would be split into three tenors and conducted by Dutch Auction.
The categories are the N150 billion for 91-day bills; the N50 billion for 182-day bills; and N250 billion for 364-day bills
According to the circular, dealers are expected to submit bids on the CBN’s online portal, the Scripless Securities Settlement System (S4), between 8 a.m. and 11 a.m. on June 17.
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In addition, the CBN stated that each bid must be at least N50,001,000, and bids have to be in multiples of N1,000; and advised Authorised Market Dealers (AMDs) to send in as many bids as they want, either for themselves or on behalf of their clients.
The apex bank disclosed that successful bidders would get their allotment letters on June 18 and were expected to pay up by 11a.m to their account with the CBN that same day.
But then, the circular stated that the CBN still held the right to increase or reduce the total amount on offer or even outrightly reject bids.
Meanhile, the apex bank’s TBNs offer for today is lower than the Debt Management Office’s (DMO’s) updated Federal Government’s Q2 2026 borrowing plan, which showed that up to N1 trillion worth of TBs could be offered by the CBN at the latest.
As of the time of filing this news story, there was no official explanation by the DMO on why the value of the TBs remained far lower than the N1 trillion earlier published in its debt plans for the government in the current fiscal year.
