CBN Treasury Bills Auction Hits N4.28 Trillion Subscriptions
Nigeria's Treasury bills market saw record subscriptions of N4.28 trillion at the February 18, 2026, auction, far exceeding the N1.15 trillion offered. Demand was overwhelmingly concentrated on the 364-day instrument, reflecting investor preference for longer-term sovereign yields amid expectations of rate moderation. Total allotments came in at N1.91 trillion, indicating selective acceptance by monetary authorities despite heavy demand. The 364-day bill alone attracted N4.07 trillion in subscriptions (95% of total demand), while the 91-day and 182-day instruments under-subscribed. This marks another strong outing for government securities in February, reinforcing Treasury bills' role as a core asset class for institutional portfolios.