Nigeria’s Treasury payments market recorded N4.28 trillion in subscriptions on the Wednesday, February 18, 2026, public sale, greater than triple the N1.15 trillion provided.
The public sale outcomes launched by the Central Bank of Nigeria (CBN) present that demand was overwhelmingly targeting the 364-day instrument, reflecting investor desire for locking in longer-term sovereign yields amid expectations of price moderation.
Regardless of the heavy demand, complete allotments got here in at N1.91 trillion, highlighting selective acceptance by financial authorities as a part of ongoing yield administration.
Nigeria’s Treasury payments public sale revealed extraordinarily sturdy system liquidity, with complete subscriptions of N4.28 trillion far exceeding the N1.15 trillion on provide.
Traders’ urge for food was overwhelmingly concentrated within the 364-day instrument, suggesting investor desire for longer-term devices to lock in yield.
The 91-day invoice, which had a suggestion dimension of N150 billion, was under-subscribed at N112.01 billion, with N105.05 billion allotted at a cease price of 15.80%.
Equally, the 182-day invoice recorded N93.75 billion in subscriptions towards a N200 billion provide, with N93.41 billion allotted at a cease price of 16.65%.
Against this, the 364-day invoice, provided at N800 billion, noticed an awesome demand of N4.07 trillion. The financial authorities allotted N1.71 trillion at a cease price of 15.90%.
Traders concentrated bids on the 364-day invoice regardless of indicators of yield moderation, reflecting urge for food for longer-duration devices.
The 364-day paper cleared at 15.90%, marginally above the 91-day cease price of 15.80% however beneath the 182-day price of 16.65%.
Nigeria’s newest NTB public sale displays continued extra liquidity within the fixed-income market, with demand hitting N4.28 trillion towards a suggestion of N1.15 trillion. This marks one other sturdy outing for presidency securities in February.
The development reinforces Treasury payments’ function as a core asset class for institutional portfolios, notably as cash market options provide comparatively decrease yields and as traders place for potential shifts in financial coverage course.
