CBN to offer N700bn of Treasury Bills on Aug 26, concentrated in 364-day paper

On August 26, 2026 the Central Bank of Nigeria, on behalf of the Debt Management Office, offered N700 billion of Treasury Bills: N100bn (91-day), N100bn (182-day) and N500bn (364-day). With no T‑Bills maturing that week the auction represents a full N700bn net liquidity mop-up from the system.

The heavy N500bn weighting in the 364‑day paper will test demand for longer-dated NTBs and the CBN’s liquidity management stance. If stop‑rates are set higher than secondary‑market levels, short-term government funding costs could rise; alternatively, strong subscriptions could absorb liquidity without materially raising stop‑rates. The auction outcome will signal investor appetite for locking in yields versus re‑positioning into shorter instruments.

Auction results expected same day; allotment letters and settlement instructions due Aug 27, 2026.