The Central Bank of Nigeria (CBN) is expected to conduct its second Treasury Bills (T-bills) auction for January 2026 today, with a total offer size of ₦1.15 trillion, as liquidity in the financial system remains elevated and interest rate expectations stay mixed.
The apex bank will issue the bills across the three standard maturities — 91 days, 182 days, and 364 days, maintaining its strategy of aggressive short-term domestic funding to manage liquidity and support government financing needs.
Market watchers say the auction is coming at a sensitive time, with investors closely monitoring inflation trends, monetary policy signals, and ongoing liquidity management operations by the CBN.
Analysts note that the results of the auction will offer fresh insight into the direction of short-term interest rates, especially as the market balances disinflation concerns against sustained government borrowing pressures.
The outcome is expected to influence near-term yield movements in the money market and shape investor sentiment going into subsequent auctions.
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