CBN to Open N1trn Worth of Treasury Bills for Subscription
The Central Bank of Nigeria (CBN) is scheduled to open Nigerian Treasury bills totalling N1 trillion at the primary market auction on Wednesday.
The Debt Management Office, on behalf of the monetary authority, will price Nigerian Treasury bills across standard tenors, targeting N1 trillion following an adjustment to the second quarter Treasury bills auction calendar.
In a circular obtained from the market, the DMO has revised its Q2 Nigerian Treasury bills calendar, with the 17th June 2026 auction size adjusted upward to N1 trillion from N450 billion.
Analysts said this is likely aimed at further reducing system liquidity, though the N206.85 billion in maturities due on 18th June 2026 should provide a partial offset.
With Wednesday’s auction in focus, fixed income market analysts expect a cautious tone to prevail across the market in the near term.
Sentiment in the secondary market was broadly bearish across the fixed income space last week. The average Treasury bill yields across both the NTB and OMO segments climbed 8 bps week-on-week to 18.83% per annum.
The Nigerian Treasury bills segment led the weakness, with average yields advancing to 17.69% per annum amid sell pressure. OMO bill yields also added 7bps week-on-week to close at 20.98%.
Treasury Bills Sold Off as Investors Rotate Funds to Risky Assets
