The Central Bank of Nigeria, acting for the Debt Management Office, is conducting a primary market auction today, October 14, 2026, to offer 450 billion Naira in Treasury Bills. The auction includes 50 billion Naira each for 91-day and 182-day tenors, and 350 billion Naira for 364-day bills.

This exercise is part of the Federal Government’s fourth-quarter Treasury bill programme, which targets 5.4 trillion Naira in total gross issuance. The one-year instrument remains the government’s primary focus, accounting for approximately 76 percent of the planned offers for the quarter. Investors are closely watching the stop rates to see if the recent downward trend in yields continues, following the 15.85 percent rate recorded for the one-year bill at the previous auction on October 7. While the advertised offer is 450 billion Naira, actual allotments could vary based on market demand and liquidity conditions.