The Central Bank of Nigeria (CBN) plans to raise ₦5.8 trillion through Treasury Bills (TBs) in the third quarter of 2026 as part of the Federal Government’s domestic borrowing programme for the 2026 budget.
The planned issuance represents a 241 per cent year-on-year increase compared with the ₦1.7 trillion raised through Treasury Bills in the third quarter of 2025.
The apex bank disclosed the programme in its Nigeria Treasury Bills Issue Programme for Q3 2026.
Treasury Bills are short-term debt instruments, with maturities of less than one year, issued by the CBN on behalf of the Federal Government to raise funds from investors. The instruments are also used by the apex bank as a monetary policy tool to regulate liquidity and control money supply in the economy.
According to the issuance calendar, the programme commenced on July 1, 2026, and will run until September 23, 2026, while settlement dates span July 2 to September 24, 2026.
During the quarter, the CBN plans to issue ₦900 billion in 91-day Treasury Bills, ₦900 billion in 182-day bills, and ₦4 trillion in 364-day bills, bringing the total planned issuance to ₦5.8 trillion.
A breakdown of the programme shows that ₦2 trillion will be offered in July, comprising ₦300 billion in 91-day bills, ₦300 billion in 182-day bills, and ₦1.4 trillion in 364-day bills.
In August, the apex bank plans to issue ₦2.1 trillion, including ₦300 billion in 91-day bills, ₦300 billion in 182-day bills, and ₦1.5 trillion in 364-day bills.
For September, the CBN intends to raise ₦1.7 trillion through the sale of ₦300 billion in 91-day bills, ₦300 billion in 182-day bills, and ₦1.1 trillion in 364-day Treasury Bills.