CBN to Raise a Fresh N850bn Through Treasury Bills Auction

The Central Bank of Nigeria (CBN) has announced plans to raise N850 billion through a Treasury Bills auction scheduled for March 11, 2026, as authorities continue efforts to manage liquidity and finance government obligations in the domestic debt market.

Earlier in March,Business Times Newspapers reported that the CBN’s March 4 Treasury Bills Auction Draws N2.34trn Bids, Allots N1.01trn, with the 364-day instrument receiving the highest subscription. Stop rates for the auction settled at 15.95% for the 91-day bill, 16.65% for the 182-day bill, and 16.73% for the 364-day bill.

Following that auction, the Central Bank of Nigeria (CBN) announced plans to raise N850 billion through a fresh Treasury Bills sale scheduled for March 11, 2026. The sale will be conducted using the Dutch auction system, allowing investors to submit bids indicating the yields they are willing to accept.

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The offer will include N100 billion in 91-day Treasury Bills, N150 billion in 182-day bills, and N600 billion in 364-day bills. Prospective investors are required to submit bids electronically through the Scripless Securities Settlement System (S4) between 8:00 a.m. and 11:00 a.m. on the day of the auction.

Each bid must be in multiples of N1,000, with a minimum subscription of N50,001,000. Authorized Money Market Dealers may submit bids on behalf of clients, for non-money market dealers, or for their own accounts.

Successful bidders will receive allotment notifications on March 12, 2026, and payments must be completed through accounts maintained with the apex bank by 11:00 a.m.

The upcoming auction follows strong investor demand in the previous sale, particularly for longer-tenor instruments. Analysts note that Treasury Bills remain one of the most traded fixed-income instruments in Nigeria, offering relatively low risk and short-term investment options.

The CBN continues to use Treasury Bills to manage liquidity in the financial system and finance government obligations, while providing investors with competitive returns in a controlled, secure environment.