The Central Bank of Nigeria (CBN) plans to raise ₦2 trillion through Treasury Bill auctions in July on behalf of the Federal Government.
The planned issuance is significantly higher than the ₦647.79 billion in Treasury Bills expected to mature during the month, resulting in a projected net liquidity withdrawal of about ₦1.35 trillion from the financial system.
The move is part of the CBN’s monetary policy measures aimed at reducing excess liquidity, curbing inflation, supporting the naira and maintaining stability in short-term interest rates.
The July auction programme follows a strong outing in June, when the CBN offered ₦800 billion in Treasury Bills but attracted subscriptions worth ₦1.66 trillion, reflecting strong investor demand, particularly for the 364-day tenor.
The stop rate for the 364-day Treasury Bill increased to 17.34 per cent from 16.35 per cent recorded at the previous auction, highlighting sustained investor interest in longer-term government securities amid tight market liquidity.
