CBN to sell N700 billion Treasury Bills today in second August auction
The Central Bank of Nigeria (CBN), on behalf of the Debt Management Office (DMO), will offer N700 billion across the 91-day, 182-day and 364-day Treasury Bills tenors in the second and final Treasury Bills (NTB) auction for August 2026.
This is the second scheduled Treasury Bills auction of August 2026, following an earlier cancellation as well as one unusually eventful sale.
Specifically, CBN had initially planned its first August auction for Thursday, August 6, offering N700 billion across the same three tenors, with bids due August 5.
Surprisingly, the auction was abruptly withdrawn just days after the apex bank absorbed a combined N4.69 trillion from the banking system through back-to-back OMO auctions on August 3 and 4.
These have elicited concerns that a fresh N700 billion Treasury Bills sale could over-tighten system liquidity.
Indeed, the August 12 rate hike marked a notable reversal from the trend seen through much of July, when the CBN eased the 364-day stop rate at both the July 15 and July 29 auctions despite similarly overwhelming demand, dropping it to as low as 17.35% by month-end.
Also, the August 12 auction saw the CBN allotting approximately N1.456 trillion against its N700 billion offer, meaning that with the August 5/6 auction cancelled outright, August 12 stands as the only completed NTB auction of the month prior to today’s sale.
The N700 billion offer, once allotted, may bring the final cumulative figure for August considerably higher than N2 trillion, going by recent trends of the CBN allotments.
However, the notice of the Invitation to Tender for Nigerian Treasury Bills (NTB) states that All Money Market Dealers are required to submit bids through the CBN S4 Web Interface between 8:00 a.m. and 11:00 a.m. on Wednesday, August 26, 2026.
The offer is broken down as N100 billion for the 91-day bill, N100 billion for the 182-day bill, and N500 billion for the 364-day bill, and will be conducted through the Dutch auction, maintaining the CBN’s now-familiar preference for longer-dated paper that has defined its Treasury Bills strategy through much of Q3 2026.
The authorised Money Market Dealers are permitted to submit multiple bids for their own accounts, non-Money Market Dealers or interested members of the public.
The auction result is expected to be announced on Wednesday, August 26, 2026, while allotment letters will be issued on Thursday, August 27, 2026.
