The Central Bank of Nigeria (CBN) has announced plans to raise N700 billion through a Nigerian Treasury Bills (NTBs) auction scheduled for May 7, 2026, marking the first issuance for the month and aligning with its second-quarter (Q2) borrowing calendar.
- +CBN to raise N700 billion in first May-2026 Treasury Bills auction
The planned auction was disclosed in an official tender notice issued by the apex bank on behalf of the Debt Management Office (DMO) and obtained by Nairametrics.
The planned auction was disclosed in an official tender notice issued by the apex bank on behalf of the Debt Management Office (DMO) and obtained by Nairametrics.
The move forms part of the Federal Government’s broader domestic borrowing strategy for Q2 2026, which includes multiple NTB issuances to manage liquidity and fund short-term obligations.
According to CBN’s tender notice, the sum of N700 billion will be offered across three maturities using the Dutch auction system.
However, the CBN said it retains the discretion to adjust the total amount on offer based on prevailing market conditions.
The May auction is the first of two scheduled NTB issuances for the month, following the CBN’s Q2 calendar which outlined planned offerings of N700 billion and N650 billion on May 6 and May 20, respectively.
Analysts note that the outcome of this auction will provide key signals on yield direction and investor sentiment as the second quarter progresses.
Nigeria’s Treasury Bills market remains a key tool for short-term government financing and liquidity management.
Market watchers will be focused on subscription and allotment levels as well as stop rates, particularly for the 364-day instrument. These are partly the indicators of investor confidence and interest rate expectations in the near term, as well as the government exposure level.
