Nigeria Treasury Bill Yield Cut After Massive Bids
The Central Bank of Nigeria (CBN) held a primary‑market auction for Treasury bills on 29 July 2026 that attracted total subscriptions of about N3.62 trillion against an offer size of N700 billion. Demand was heavily weighted to the 364‑day instrument, which received N3.38 trillion in bids for an offer of N500 billion—an oversubscription of nearly seven times.
CBN allotted roughly N1.25 trillion across the three tenors, allocating more than N1.02 trillion to the 364‑day bill. The stop rate on that bill was cut by 31 basis points to 17.35 percent from 17.66 percent at the previous auction. The 91‑day bill’s stop rate stayed at 16.30 percent, with bid rates between 15.97 percent and 17.50 percent, while the 182‑day bill’s stop rate remained at 16.50 percent, with bids ranging from 16.00 percent to 25.00 percent.
Secondary‑market activity saw yields dip slightly after the auction, with the newly issued 29 July 2027 Treasury bill trading around 17.10 percent. Analysts view the strong demand and lower yield as a sign of improving liquidity in Nigeria’s financial system and a continued appetite for longer‑dated naira government securities.
Entities: Central Bank of Nigeria · Nigeria Treasury Bills · Nigerian Naira
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 3 SOURCES] The 182‑day bill stop rate remained at 16.50 percent with bid rates ranging from 16.00 percent to 25.00 percent. (all articles)
- [● 3 SOURCES] Total subscriptions for the auction were about N3.62 trillion against an offer size of N700 billion. (all articles)
- [○ 1 SOURCE] Secondary‑market yields on the 29 July 2027 Treasury bill dipped to around 17.10 percent after the auction. (article 39fdbc5f-8469-4756-9e50-8b3b86276620)
- [● 3 SOURCES] The 91‑day bill stop rate remained at 16.30 percent with bid rates between 15.97 percent and 17.50 percent. (all articles)
- [● 3 SOURCES] The 364‑day bill attracted N3.38 trillion in bids for an offer of N500 billion, an oversubscription of nearly seven times. (all articles)
- [● 3 SOURCES] CBN allotted about N1.25 trillion in total across the three maturities. (all articles)
- [● 3 SOURCES] The stop rate on the 364‑day bill was cut by 31 basis points to 17.35 percent from 17.66 percent at the previous auction. (all articles)
- [● 3 SOURCES] More than N1.02 trillion was allocated to the 364‑day bill. (all articles)