Nigeria’s treasury bills auction attracts N2.78 trillion in bids as investors crowd into one-year securities despite slightly lower yields.
The Central Bank of Nigeria recorded strong investor demand at its Treasury Bills Primary Market Auction held on March 11, 2026, with subscriptions reaching N2.78 trillion against N850 billion offered. Despite the offer size, the apex bank allotted N933.92 billion across the three maturities: 91-day, 182-day, and 364-day instruments.
Demand was overwhelmingly concentrated on the 364-day Treasury Bill, which attracted N2.57 trillion in bids compared with the N600 billion offered. The central bank eventually allotted N731.81 billion for the one-year instrument.
Shorter-tenor securities saw relatively lower demand, with the 91-day bill attracting N131.12 billion in bids and the 182-day instrument receiving N82.34 billion.
Stop rates settled at 15.95% for the 91-day bill, 16.65% for the 182-day bill, and 16.72% for the 364-day instrument. The results highlight sustained investor appetite for longer-duration government securities in Nigeria’s fixed income market.
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