Nigeria's CBN to Issue N2 Trillion Treasury Bills as Lawyers' Cooperative Launches Investment Scheme

The Central Bank of Nigeria (CBN) announced a plan to raise N2 trillion through Treasury Bill auctions in July, aiming to withdraw roughly N1.35 trillion of liquidity from the banking system as part of its tightening strategy to curb inflation and stabilise the naira. The June auction saw strong demand, with N800 billion offered and N1.66 trillion subscribed, a bid‑to‑cover ratio of 2.08, especially for the 364‑day tenor.

Separately, the Lawyers In Business Cooperative Society, together with ARM Pension/Investment Managers, is organising groups of lawyers to pool contributions ranging from N1 million to N10 million each to invest in Treasury Bills and the broader money‑market. The scheme aims to broaden access to these government securities and provide a pension‑saving mechanism similar to that available to civil servants. Contact details and enrollment information were provided for interested participants.