Nigeria’s latest Treasury Bills auction shows huge investor demand as buyers rush to secure high yields before next year’s easing cycle.
Nigeria’s Treasury Bills auction on November 19, 2025 drew massive interest, with the 364-day bill alone attracting N1.23 trillion in subscriptions against a N450 billion offer. Despite this strong demand, stop rates stayed unchanged at 15.30%, 15.50% and 16.04% for the 91-day, 182-day and 364-day papers.
The CBN allotted N1.03 trillion to the one-year tenor, bringing total allotments to N1.63 trillion, clear evidence of excess liquidity and strong appetite for high-yield instruments. True yields remain elevated at up to 19.104%.
Analysts say investors are rushing to lock in these high returns before expected monetary easing in 2026. Dr. Ayodeji Ebo noted that buyers are positioning ahead of rate moderation. Compared with the November 5 auction, demand for longer tenors has intensified, signalling expectations of yield stability.
With inflation falling and liquidity rising, analysts expect rates to soften next year. For now, one-year Treasury Bills remain the top risk-free option for strong returns.
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