ABUJA, May 19 – The Central Bank of Nigeria will auction N650 billion (about $480 million) in Treasury Bills on Wednesday, May 20, as part of the Nigerian Government’s second-quarter domestic borrowing program.
The issuance, announced through an official tender notice released on behalf of the Debt Management Office, represents the second Treasury Bills auction scheduled for May.
The auction forms part of the government’s broader strategy to finance short-term obligations, manage liquidity conditions and support fiscal operations amid rising borrowing needs.
According to the tender notice, the offering will be conducted through the Dutch auction system across three maturities.
The central bank plans to issue:
- N100 billion ($72 million) in 91-day Treasury Bills
- N50 billion ($36 million) in 182-day Treasury Bills
- N500 billion ($361 million) in 364-day Treasury Bills
Authorized money market dealers are expected to submit bids electronically through the CBN’s S4 WEB platform between 8:00 a.m. and 11:00 a.m. on the auction date.
The minimum subscription size has been set at N50.001 million, with additional bids required in multiples of N1,000.
Dealers may submit multiple bids on behalf of institutional investors, financial firms and retail participants.
Results of the auction are expected to be announced on May 20, while allotment letters for successful bidders will be issued the following day.
Successful subscribers are required to settle payments with the central bank by 11:00 a.m. on the settlement date.
The CBN said it reserves the right to adjust the amount offered depending on prevailing market conditions and investor demand at the time of the auction.
Treasury Bills remain one of Nigeria’s primary domestic borrowing instruments and are widely used by the government to manage short-term financing requirements and liquidity within the banking system.
The latest issuance comes as investors closely monitor monetary policy direction, inflation trends and liquidity conditions ahead of the next meeting of the Monetary Policy Committee.
