Central Bank of Nigeria (CBN) has opened for offer N650 billion worth of Nigerian Treasury Bills (NTBs) at its scheduled auction, Wednesday in what marks the second issuance for the month under the Federal Government’s second-quarter borrowing programme.

The auction, conducted on behalf of the Debt Management Office (DMO), was announced in an official tender notice issued by the regulator, with bids expected to close on the same day.

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In a notice, the CBN disclosed that the offer will be distributed across three maturities under the Dutch auction system: N100 billion in 91-day bills, N50 billion in 182-day bills, and a dominant N500 billion in 364-day Treasury Bills.

Authorized Money Market Dealers are required to submit bids electronically through the CBN’s S4 WEB Interface between 8:00 a.m. and 11:00 a.m. on May 20.

The minimum subscription is set at N50.001 million, with additional bids required in multiples of N1,000. Dealers may also submit bids on behalf of institutional and retail investors.

This issuance follows the earlier May 7 auction, where the apex bank offered N700 billion across similar tenors, reflecting the government’s continued reliance on short-term domestic borrowing to support fiscal operations and manage liquidity.

Analysts say the market is likely to show strong demand for the 364-day instrument, which remains the most attractive to investors due to its higher yield po

tential.