The Central Bank of Nigeria (CBN) is set to roll over Treasury bills totaling N369 billion through a Primary Market Auction (PMA) slated for Wednesday. In preparation, the apex bank plans to offer N400 billion worth of Treasury bills across standard maturities, as part of efforts to refinance the maturing instruments.
Market analysts have hinted at the possibility of a downward adjustment in interest rates during the exercise. Meanwhile, the secondary market for Nigerian Treasury bills opened the week on a muted note, before midday activity pushed spreads wider across the yield curve. The December 2025 and March 2026 tenors were the most actively traded, resulting in an uptick in the average mid-rate for Nigerian Treasury Bills (NTBs).
Market sources also noted that the Nigerian Interbank Treasury Bills True Yield saw a general rise across all maturities. This upward movement was attributed to intensified selloffs by investors, which drove the average yield up by 14 basis points to close at 21.04%.
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