CBN Targets N700bn Raise from Nigerian Treasury Bills Auction
The Central Bank of Nigeria (CBN) is scheduled to conduct the first Treasury Bill auction for the month on May 6, 2026, according to a financial market circular released.
The Apex Bank targets N700 billion across standard maturities, including 91-day, 182-day, and 364-day Treasury bills. The Apex Bank will offer N100.00 billion for the 91-Day tenor, N50.00 billion for the 182-Day tenor, and N550.00 billion for the 364-Day tenor.
Subscription is anticipated to be strong due to a sufficient liquidity level in the financial system, with analysts saying banks will continue to step up investment in securities.
Banking system liquidity opened with a surplus balance of ₦6.61 trillion, an improvement of ₦1.05 trillion from the previous open of ₦5.56 trillion.
The increase was mainly driven by ₦2.71 trillion inflow from the 05- May-2026 OMO maturity, further supported by ₦3.43 trillion banks’ placements at the standing deposit facility.
In the secondary market, trading activity was completely flat as investors stood on the sidelines ahead of the upcoming Primary Market Auction.
With market participants adopting a wait-and-see approach, trading activity was non-existent, leaving yields unchanged across the entire curve and reflecting a total pause in positioning. Fidelity Bank: Analysts See 36% Upside on Price Target
