The Central Bank of Nigeria (CBN) has successfully raised N2.93 trillion through recent auctions of Treasury Bills (T-Bills) and Open Market Operation (OMO) bills, driven by strong investor demand across both financial instruments.
T-Bills, short-term government securities issued by the central bank, and OMO bills, used specifically to manage liquidity in the economy, attracted significant interest from investors, highlighting renewed market confidence.
At the midweek Nigerian Treasury Bills (NTB) auction, the CBN offered N400 billion across three maturities — 91 days, 182 days, and 364 days. However, total subscriptions reached an impressive N1.54 trillion, resulting in a high bid-to-offer ratio of 3.9 times.
In response to this robust demand, the CBN over-allotted N714.38 billion, with N650.28 billion allocated to the longer 364-day paper. Stop rates declined across all tenors, further reflecting strong market appetite.
Similarly, during the OMO auction held on April 25, the CBN offered N500 billion across two tenors — 298 days and 319 days — underscoring continued investor enthusiasm for Nigerian debt instruments.
