CBN to Auction N850 Billion in Treasury Bills on March 11

The Central Bank of Nigeria (CBN) has announced its intention to raise N850 billion through a Treasury Bills auction set for March 11, 2026. This auction is part of a broader strategy to manage liquidity and will bring the total amount raised within the week to N2 trillion, according to an official tender notice.

The Debt Management Office (DMO) will conduct the auction using a Dutch auction system, with bids to be submitted in multiples of N1,000, subject to a minimum subscription of N50,000. Successful bidders will receive allotment letters on March 12, 2026, with payment required by 11:00 AM.

The CBN's recent auction of N1.05 trillion across three tenors has indicated significant investor interest, leading to a repricing of short and long tenors. Despite a total oversubscription of N2.34 trillion, the auction process remains fully digitized, and the CBN will monitor the upcoming auction closely to determine if yields will continue to trend higher, particularly for longer tenor instruments.