The Central Bank of Nigeria (CBN) on Wednesday opened ₦1.15 trillion worth of Nigerian Treasury bills for investors’ subscription, signalling a continued tightening stance in its liquidity management operations.
The primary market auction came just 24 hours after the apex bank raised ₦2.71 trillion from an Open Market Operations (OMO) bills subscription, underscoring what market watchers described as an aggressive liquidity mop-up strategy.
The move was met with interest rates that a number of Broad Street analysts considered sufficiently attractive to draw yield-seeking investors into the fixed-income market.
At the auction, the CBN offered ₦150 billion worth of 91-day Nigerian Treasury bills. In addition, ₦200 billion in 182-day Treasury bills was placed on offer for investor subscription.
At the longer end of the yield curve, investors were given the opportunity to invest up to ₦800 billion in 364-day Treasury bills. Analysts said the first Treasury bills auction of 2026 suggests the central bank is adopting a more aggressive posture, with expectations of further repricing of rates in the coming months.
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