The Central Bank of Nigeria (CBN) has scheduled a N600 billion ($370 million) Treasury bills auction for Tuesday, continuing its aggressive campaign to absorb excess liquidity from the banking system.
The auction follows a N2.5 trillion issuance on Monday, which was accompanied by the repayment of N2.97 trillion in Open Market Operations (OMO) bills, signaling a complex rotation of short-term debt instruments rather than a simple net reduction in outstanding stock.
8 trillion ($3.7 billion) Treasury bill program scheduled for the third quarter of 2026.
This daily auction is part of a broader N5.8 trillion ($3.7 billion) Treasury bill program scheduled for the third quarter of 2026.
The CBN’s sustained selling pressure reflects ongoing efforts to manage inflationary pressures and stabilize the naira by tightening monetary conditions.
Market participants are closely watching the bid-to-cover ratios and yield movements to gauge the depth of institutional demand amid the central bank’s persistent liquidity withdrawal.
The scale of the Q3 program marks the most significant liquidity mop-up operation in Nigeria this year.