The Central Bank of Nigeria (CBN) has unveiled plans to raise N850 billion through new Nigerian Treasury Bills (NTBs) auction this Wednesday.
If fully subscribed to, the Wednesday auction will bring the total amount raised from the debt instrument to about N2 trillion in one week.
The official tender Notice sent to primary market dealers by the CBN on behalf of the Debt Management Office (DMO) indicated that the Federal Government would offer N850 billion worth of Treasury Bills across three tenors in the scheduled auction.
According to the Notice, the auction, comprising N100 billion to be offered in 91-day Treasury Bills, N150 billion to be offered in 182-day Treasury Bills, and N600 billion will be offered in 364-day Treasury Bills, will be conducted using the Dutch auction system, with settlement scheduled for the next day.
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The CBN advised prospective investors to submit bids electronically through the CBN’s Scripless Securities Settlement System (S4) between 8:00 a.m. and 11:00 a.m. on Wednesday, March 11, 2026.
It stated that each bid must be submitted in multiples of N1,000, subject to a minimum subscription of N50,001,000, while authorized Money Market Dealers may submit multiple bids for their own accounts, for non-money market dealers, or for interested members of the investing public.
The apex bank further stated that successful bidders would receive allotment letters on Thursday, March 12, 2026, with payments required no later than 11:00 a.m. through accounts held with the apex bank.
The planned auction follows the Treasury Bills Primary Market auction held on March 4 during which the CBN offered N1.05 trillion across the same three tenors , with investors significantly repricing the short and longer tenors in spite of N2.34 trillion total oversubscriptions.
At the last auction, the 364-day bill dominated demand, attracting N2.13 trillion in bids against N800 billion offered and apex bank allotted N1.01 trillion across all tenors.
The stop rates settled higher at 15.95% for the 91-day bill and 16.73% for the 364-day bill , while the 182-day bill remained flat at 16.65%.
