The Central Bank of Nigeria is offering N450 billion worth of Nigerian Treasury Bills (NTBs) for auction on Wednesday, June 17, with the settlement date set for June 18.
- +CBN offers N450 billion Treasury Bills for auction on Wednesday, June 17
This is according to the official notice to Primary Money Market Dealers (PMMD) seen by Nairametrics on Tuesday.
This is according to the official notice to Primary Money Market Dealers (PMMD) seen by Nairametrics on Tuesday.
But this is much lower than the Debt Management Office’s (DMO) updated Q2 plan, showing up to N1 trillion on offer, a move to raise more funds in response to government needs.
In the updated programme, DMO increased entire programme size to N4.8 trillion from the earlier N3.95 trillion set in April.
This auction is split into three tenors and is going to be conducted via Dutch Auction across:
According to a circular seen by Nairametrics, successful bidders will get an allotment letter on June 18 and are expected to pay up by 11 a.m to their account with the CBN that same day.
However, the CBN still holds the right to increase or reduce the total amount on offer or even reject bids outright.
There is some confusion over the offer size as the monetary authorities are yet to explain whether the CBN has scaled back to the original amount or plans to pick up the N1 trillion in excess subscriptions.
In the previous auction in June, the offer size stood at N1 trillion, and CBN accepted about N1.2 trillion out of
implies that overall NTB maturities for Q2 2026 are still at N3.197 trillion.
What changed is the net new borrowing which is now up to N1.6 trillion—way more than the initial target of about N753 billion.
Most of the Q2 borrowings are tied to the 364-day bills, which jumped to N4.8 trillion in the revised programme released in June, up from the earlier N3.95 trillion set in April.
Both Treasury bills and OMO auctions are used to soak up banking system liquidity, even though they are technically run by different government entities.
The apex bank is expected to conduct one more NTB auction to wrap up the second quarter programme in line with the DMO’s updated Q2 calendar.
