DMO Rejects N1.84 Trillion in Treasury Bill Bids
On October 28, 2026, the Debt Management Office (DMO), through the Central Bank of Nigeria (CBN), rejected N1.84 trillion in investor subscriptions during the Nigerian Treasury Bills auction, allotting only N71.16 billion. Investors submitted N1.908 trillion in bids against an advertised offer of N800 billion, resulting in a subscription coverage of 2.38 times.
The DMO allotted just 8.89% of the advertised offer, leaving approximately 96.27% of total subscriptions unfilled, primarily in the 364-day instrument. This auction marked the second consecutive time the DMO left most bids unallotted.
The one-year stop rate declined to 15.80%, down from 15.90% at the previous auction on October 14, where 74% of bids were also unallotted. The 364-day Treasury Bill saw N1.84 trillion in subscriptions against an advertised offer of N600 billion, with only N38.38 billion allotted.
The auction results indicated a shift from previous patterns where larger amounts were allotted due to strong investor demand.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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