Advertisement
CBN Resumes NTB Auctions With N700bn Offer
The Central Bank of Nigeria (CBN), acting on behalf of the Debt Management Office (DMO), will return to the primary market with a N700 billion Nigerian Treasury Bills (NTB) auction on Wednesday, August 12, 2026.
The move comes just a week after the apex bank withdrew a similar-sized offering to avoid overheating liquidity conditions.
According to the Invitation to Tender, the auction will feature N100 billion in 91-day bills, N100 billion in 182-day bills, and N500 billion in 364-day bills.
The securities will be issued through the Dutch auction system, with bids received electronically via the CBN S4 Web Interface between 8:00 a.m. and 11:00 a.m. on August 12.
Successful bids will be settled on Thursday, August 13. The CBN reserved the right to reject bids or vary the amount offered in line with prevailing market realities.
“All Money Market Dealers are required to submit bids electronically subject to a minimum subscription of N50,001,000,” the apex bank stated.
The auction is one of the six largest planned in the CBN’s aggressive Q3 issuance calendar. It coincides with an estimated N1.58 trillion in OMO maturities this week, which could provide banks and institutional investors with fresh liquidity to support demand.
The 364-day instrument dominates the offer, accounting for N500 billion or 71.4% of the total size, underscoring the CBN’s preference for longer-dated short-term securities.
Market watchers will be keen to see whether stop rates, particularly on the 364-day tenor, continue their recent downward trend.
The return to NTB sales follows the cancellation of the August 5 auction, which came after the CBN absorbed N4.69 trillion through back-to-back OMO operations.
In July alone, the bank drained N7.18 trillion from the system, intensifying liquidity management efforts.
