The Central Bank of Nigeria (CBN), on behalf of the Debt Management Office (DMO), will offer N700 billion worth of Nigerian Treasury Bills (NTBs) at its first auction for September 2026. The auction, scheduled for September 3, will cover three maturities: 91-day, 182-day and 364-day bills. The offer is part of the final auctions under […]
The Central Bank of Nigeria (CBN), on behalf of the Debt Management Office (DMO), will offer N700 billion worth of Nigerian Treasury Bills (NTBs) at its first auction for September 2026.
The auction, scheduled for September 3, will cover three maturities: 91-day, 182-day and 364-day bills. The offer is part of the final auctions under the third-quarter (Q3) 2026 NTB programme.
According to the Invitation to Tender, Money Market Dealers are required to submit their bids through the CBN S4 Web Interface between 8:00 a.m. and 11:00 a.m. on Wednesday, September 2.
The N700 billion offer is divided into N100 billion for the 91-day bill, N100 billion for the 182-day bill and N500 billion for the 364-day bill.
The CBN said bids must be submitted in multiples of N1,000, with a minimum bid of N50.001 million. Dealers can submit multiple bids for themselves, non-Money Market Dealers and members of the public.
The apex bank also reserves the right to reject bids or adjust the amount offered depending on prevailing market conditions.
The auction results are expected to be released on September 2, while allotment letters will be issued on September 3. Successful bidders are expected to make payment to the CBN by 11:00 a.m. on the same day.
Under the Q3 2026 NTB programme, the DMO and CBN planned to issue N5.8 trillion in Treasury Bills between July and September. This comprises N900 billion in 91-day bills, N900 billion in 182-day bills and N4 trillion in 364-day bills.
The 364-day bills account for about 69 per cent of the planned issuance, making them the largest component of the programme.
Treasury Bills worth N2.644 trillion are expected to mature during the quarter. After repayments, the programme could result in about N3.16 trillion in net new borrowing.
The CBN had initially scheduled several N700 billion auctions during the quarter, although the August 5 auction was cancelled following liquidity withdrawals from previous OMO sales.
