Nigeria to offer ₦700bn in Treasury bills on Sept 2, with ₦500bn in 364-day paper

On September 2, 2026 the Debt Management Office (via the CBN) will offer ₦700 billion of Nigerian Treasury Bills — ₦100bn 91-day, ₦100bn 182-day and ₦500bn 364-day — concentrating issuance in the one-year tenor and signalling the quarter’s funding mix.

A large one-year allocation (₦500bn) means the auction will be a focal point for short-term domestic funding costs and banking-system liquidity. Strong subscription or aggressive allotment would show ample institutional naira liquidity and could anchor one-year yields; weak demand or higher stop-rates would indicate tighter local funding conditions and increased policy conflict between financing and liquidity objectives. This development affects naira sovereign curve positioning rather than implying immediate FX moves.

Auction results and stop-rates on Sept 2, 2026 (results expected same day); allotment letters due Sept 3.