LAGOS – The Central Bank of Nigeria (CBN) will conduct a N700 billion primary market auction for short-term government debt on Wednesday, July 29, 2026, on behalf of the Debt Management Office (DMO).
According to an official invitation to tender, the issuance marks the third and final primary market Treasury Bills auction scheduled for the month of July.
Allocations will be determined through a Dutch auction mechanism across three standard tenors: the 91-day, 182-day, and 364-day instruments.
The transaction is designed to part-refinance maturing obligations while funding the federal government’s budget deficit.
Market liquidity remains robust, supported by recent Open Market Operation (OMO) maturities, which financial market analysts expect will drive substantial oversubscription, particularly on the one-year paper.
The auction follows the Monetary Policy Committee’s decision on July 21 to hold the benchmark interest rate at 26.5%.
Central bank officials maintained a cautious monetary stance to anchor inflation expectations despite a slight moderation in headline inflation to 15.91% in June.
Investors are closely tracking stop rates across all three tenors to gauge how the central bank balances cost-effective debt service against elevated yields required by institutional investors.
