The Central Bank of Nigeria (CBN) is set to offer N700 billion in Treasury Bills today, August 26, 2026, in the second and final scheduled Nigerian Treasury Bills (NTB) auction for the month. The offer covers 91-day, 182-day and 364-day bills, with the largest share—N500 billion—allocated to the one-year tenor.
The auction is being conducted on behalf of the Debt Management Office (DMO), with authorised Money Market Dealers submitting bids through the CBN S4 Web Interface between 8:00 a.m. and 11:00 a.m. The bills will be sold through a Dutch auction, while successful bidders are expected to make payment by 11:00 a.m. on the settlement date.
Today’s offer comprises N100 billion for the 91-day bill, N100 billion for the 182-day bill and N500 billion for the 364-day bill. The auction comes after the CBN attracted strong demand at its August 12 sale, when investors submitted N4.4 trillion in bids—more than six times the total amount initially offered.
The 364-day Treasury Bill was particularly popular, receiving N4.19 trillion in subscriptions against the N500 billion offer. The CBN eventually allotted N1.26 trillion on the tenor and raised its stop rate to 17.59%, up from 17.35%. Investors will therefore be watching closely to see whether the apex bank maintains that higher rate or signals a return to the easing trend seen in July.
The outcome of today’s auction could provide another important signal about liquidity conditions and investor appetite for government securities. With the CBN targeting N5.8 trillion in gross Treasury Bills issuance for the third quarter of 2026, market participants will also be paying close attention to how much the bank ultimately allots, particularly on the heavily demanded 364-day bill.
source: nairametrics
