The Central Bank of Nigeria (CBN) has announced an offering of N650 billion in Nigerian Treasury Bills (NTBs) for auction on Wednesday, May 20, 2026. This auction is the second for the month and aligns with the Federal Government’s borrowing calendar for the second quarter of the year.

The tender notice, issued by the apex bank on behalf of the Debt Management Office (DMO), specifies May 20 as the deadline for bid submissions. This issuance is a key component of the government's domestic borrowing strategy, designed to finance short-term obligations, manage liquidity, and support fiscal operations.

The N650 billion will be distributed across three maturities using the Dutch auction system. Specifically, the CBN will offer N100 billion in 91-day Treasury Bills, N50 billion in 182-day Treasury Bills, and N500 billion in 364-day Treasury Bills.

Authorized Money Market Dealers are required to submit their bids electronically through the CBN S4 WEB Interface between 8:00 a.m. and 11:00 a.m. on the auction date. The minimum subscription amount is N50.001 million, with subsequent bids to be made in multiples of N1,000.

Dealers are permitted to submit multiple bids on behalf of themselves, institutional investors, and the general public. The CBN reserves the right to adjust the amount on offer based on prevailing market conditions.

The results of the auction are anticipated to be announced on May 20, 2026. Allotment letters for successful bidders are scheduled to be issued on Thursday, May 21, 2026. Successful subscribers must ensure their payments are made to their accounts with the CBN by 11:00 a.m. on the settlement date.