CBN Surpasses Treasury Bills Target by 40% in 2026
The Central Bank of Nigeria (CBN) allotted approximately N8.14 trillion across eight Nigerian Treasury Bills (NTB) auctions from July to September 2026, surpassing the N5.8 trillion target for the third quarter (Q3) by 40.34%. A review of primary market auction results indicated that the CBN significantly exceeded its advertised offers, primarily due to high demand for the 364-day bill.
The stop rate for this bill decreased from a peak of 17.70% on July 8 to 15.89% by September 23, marking a cumulative decline of 181 basis points. The Debt Management Office (DMO), in collaboration with the CBN, had set an expanded Q3 2026 NTB Issuance Programme targeting N5.8 trillion in gross issuance.
The fluctuations in allotments and rates reflected the CBN's strategy to meet government financing needs while managing liquidity. The September 23 auction was notable as it was the first session where the amount allotted was lower than the amount offered.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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