The Central Bank of Nigeria (CBN) has allocated a total of ₦598.33 billion in Nigerian Treasury Bills (NTBs) across three tenors.
The 365-day tenor dominated the auction, accounting for 80% of total sales and subscriptions, with ₦482.62 billion worth of bills sold.
In contrast, the 81-day tenor recorded the weakest demand, attracting ₦48.4 billion in subscriptions and resulting in actual sales of just ₦38.4 billion.
Year-to-date, total Treasury bill sales have reached ₦7.248 trillion.
The NTB auction held on Wednesday witnessed strong investor interest, with bids exceeding the offer as excess liquidity persists in the market.
The CBN offered ₦550 billion in total—₦50 billion in 91-day bills, ₦100 billion in 182-day bills, and ₦400 billion in 364-day bills.
Despite a decline in total bids to ₦1.08 trillion from ₦1.53 trillion at the previous auction, demand still far outstripped supply.
As a result, yields across most tenors remained stable, except for a marginal uptick in the 365-day yield, which rose to 24.41% from 24.36%.
Yields on the 181-day and 91-day bills held steady at 20.38% and 18.85%, respectively, marking the fourth consecutive auction with little movement in rates.
As of May 6, 2025, system liquidity stood at ₦1.21 trillion, bolstered by maturing bills worth ₦287.98 billion—more than three times the ₦550 billion on offer.