CBN to sell N500bn in final Q3 Treasury Bills auction

ABUJA, Nigeria — The Central Bank of Nigeria (CBN) will auction ₦500 billion (about US$375.6 million) in Nigerian Treasury Bills on September 23, 2026, marking the final Treasury Bills auction of the third quarter.

Kanyi Daily reports that the CBN, acting on behalf of the Debt Management Office (DMO), has directed Money Market Dealers to submit bids through its S4 Web Interface between 8:00 a.m. and 11:00 a.m. on September 23. Allotment letters will be issued on September 24, with payment for successful bids due by 11:00 a.m. that day.

The offer comprises ₦100 billion (about US$75.1 million) in 91-day bills, ₦100 billion (about US$75.1 million) in 182-day bills and ₦300 billion (about US$225.4 million) in 364-day bills. Each bid must be in multiples of ₦1,000, with a minimum bid of ₦50.001 million (about US$37,561).

The auction concludes the Q3 2026 Treasury Bills programme, which targets ₦5.8 trillion (about US$4.36 billion) in gross issuance between July and September. The programme consists of ₦900 billion in 91-day bills, ₦900 billion in 182-day bills and ₦4 trillion in 364-day bills.

Treasury Bills worth about ₦2.644 trillion (about US$1.99 billion) are scheduled to mature during the quarter, implying estimated net new borrowing of approximately ₦3.16 trillion (about US$2.37 billion). The 364-day instrument accounts for about 69% of planned issuance.

The CBN has already conducted two Treasury Bills auctions in September, selling a combined ₦1.9197 trillion (about US$1.44 billion). It allotted ₦865.71 billion on September 2 and ₦1.054 trillion on September 9, while the 364-day stop rate declined from 16.84% to 16.62%.

The Monetary Policy Committee of the CBN is scheduled to hold its 307th meeting from September 21 to 22, 2026. The CBN has kept the Monetary Policy Rate at 26.5% since July, while inflation eased to 15.39% in August from 15.43% in July.