May 19, (THEWILL) — The Central Bank of Nigeria (CBN) has announced a fresh ₦650 billion Nigerian Treasury Bills (NTBs) auction scheduled for Wednesday, May 20, 2026, as part of the Federal Government’s second-quarter domestic borrowing programme.
The auction, disclosed in an official tender notice issued on behalf of the Debt Management Office (DMO), represents the second Treasury Bills issuance for May and is to fund short-term government obligations, support fiscal operations, and manage liquidity within the financial system.
According to the notice, the CBN will offer the bills across three maturities using the Dutch auction system. The breakdown includes ₦100 billion in 91-day bills, ₦50 billion in 182-day bills, and ₦500 billion in 364-day bills, which is expected to attract the strongest investor demand due to its relatively higher yield profile.
Authorised Money Market Dealers are expected to submit bids electronically through the CBN S4 WEB Interface between 8:00 a.m. and 11:00 a.m. on May 20. The minimum subscription has been fixed at ₦50.001 million, with additional bids to be submitted in multiples of ₦1,000.
The apex bank stated that auction results will be released the same day, while successful bidders will receive allotment letters on May 21. Payments are expected to be completed before 11:00 a.m. on the settlement date.
The latest issuance follows the May 7 NTB auction, where the CBN offered ₦700 billion across the same tenors. Analysts expect strong participation from pension fund administrators, banks, asset managers, and other institutional investors amid continued appetite for government securities.
Nigeria’s Treasury Bills market remains a major tool for short-term borrowing and liquidity management. Under the Q2 2026 borrowing calendar, the Federal Government plans to raise about ₦3.95 trillion through NTB issuances, reflecting sustained reliance on the domestic debt market to finance fiscal needs.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
