Central Bank of Nigeria (CBN), through the Debt Management Office (DMO), is set to offer N1 trillion worth of Nigerian Treasury bills for subscription at Wednesday’s primary market auction as authorities step up efforts to control liquidity in the financial system.
According to a revised second-quarter Treasury bills issuance calendar, the June 17, 2026 auction size was raised from N450 billion to N1 trillion. It ranks among the largest T-bill offerings in recent months.
Market analysts say the increase is intended to absorb excess liquidity after recent large inflows into the banking system. The impact may be partly offset by N206.85 billion worth of Treasury bills maturing on June 18.
The move comes as fixed-income yields continue to climb. Average Treasury bill yields across the Nigerian Treasury Bill and OMO segments rose 8 basis points week-on-week to 18.83%.
NTB yields climbed to 17.69%, while OMO yields increased to 20.98% amid sustained sell pressure.
Analysts say Wednesday’s auction brings a likely cautious tone across the fixed-income market in the near term.
Fixed-income analysts noted that the higher auction size signals continued efforts to moderate system liquidity and maintain tight monetary conditions. Market strategists expect higher yields to sustain investor interest, especially among institutional investors seeking attractive returns.
The decision reinforces that liquidity control remains a priority for policymakers. With yields elevated, demand is expected to stay strong, supporting the appeal of Nigeria’s fixed-income market.
