CBN Raises N10.4 Trillion via NTBs as 91-Day Rate Slumps to 15%

The Central Bank of Nigeria (CBN) has successfully raised N10.4 trillion through Nigerian Treasury Bills (NTBs), with the 91-day rate slumping to 15%. This move is aimed at curbing rising inflation and stabilizing the foreign exchange rate.

The CBN's efforts to offer NTBs at elevated discount rates due to strong demand reflect a tightening monetary policy to address inflation. The decline in inflation to 20.12% in August 2025, the lowest since July 2022, is attributed to factors like foreign exchange stability and seasonal harvests.

Investor demand for long-maturity NTBs continues to grow, with stop rates reaching a high of 20.32% in February 2025.