CBN Targets N5.8 Trillion Through Treasury Bills

The Central Bank of Nigeria (CBN) plans to raise N5.8 trillion through Treasury Bills in the third quarter of 2026.

The Central Bank of Nigeria (CBN) has announced plans to issue N5.8 trillion in Treasury Bills during the third quarter of 2026 as part of the Federal Government’s borrowing programme for the 2026 budget. The planned issuance represents a 241 per cent increase compared with the N1.76 trillion raised during the same period in 2025.

The details were outlined in the Nigeria Treasury Bills Issue Programme for the third quarter of 2026. Treasury Bills are short-term debt instruments with maturities of less than one year. The Federal Government uses them to borrow from investors through the CBN, while the apex bank also relies on them to manage money supply within the economy.

The CBN Treasury Bills programme began on 1 July and will run until 23 September 2026, while settlement dates started on 2 July and will end on 24 September 2026.

During the period, the CBN plans to issue N900 billion in 91-day Treasury Bills, another N900 billion in 182-day bills, and N4 trillion in 364-day Treasury Bills.

According to the schedule, the apex bank will offer N2 trillion worth of bills in July. This includes N300 billion in 91-day bills, N300 billion in 182-day bills and N1.4 trillion in 364-day bills.

In August, the planned issuance will increase to N2.1 trillion, made up of N300 billion in 91-day bills, N300 billion in 182-day bills and N1.5 trillion in 364-day bills.

For September, the CBN Treasury Bills programme provides for N1.7 trillion in issuances, comprising N300 billion in 91-day bills, N300 billion in 182-day bills and N1.1 trillion in 364-day bills.

The expanded issuance forms part of the government’s broader financing strategy while also supporting the CBN’s monetary management objectives.

Do you think the larger CBN Treasury Bills programme will attract stronger investor interest in 2026?