CBN Raises N15.3tn from Treasury Bills to Bridge Budget Deficit

The Central Bank of Nigeria (CBN) raised N15.3 trillion from Nigerian Treasury Bills in 2025 to support the federal government's budget deficit. This amount represents a 14.8% increase from 2024, indicating a growing dependence on short-term domestic borrowing.

Despite a higher volume of subscriptions, total investor subscriptions declined due to lower yields. The CBN's strategy includes reducing stop rates to encourage portfolio rebalancing and fund flows into the Nigerian stock market.

The move aims to stabilize interest rates, attract capital inflows, and manage inflation and foreign exchange stability.