CBN allots N1.05 trillion as 364-day NTB stop rate falls to 16.62%, third straight cut
The Central Bank of Nigeria (CBN) allotted N1.05 trillion at its Wednesday, September 9, 2026, Treasury Bills primary market auction, cutting the stop rate on the one-year bill to 16.62%, its lowest level in recent weeks. The post CBN allots N1.05 trillion as 364-day NTB stop rate falls to 16.62%, third straight cut appeared first on Nairametrics .
On September 9, 2026, the Central Bank of Nigeria (CBN) conducted a Treasury Bills primary market auction, allocating N1.05 trillion at a record stop rate of 16.62% for the one-year bill, marking the third consecutive cut in the rate. This recent reduction follows a series of cuts on the 364-day tenor, indicating the central bank's shift towards a more accommodative monetary policy after more than three years of elevated interest rates and tightening policies.
Investors submitted a combined N2.64 trillion in bids for the N750 billion offered, with the CBN ultimately allotting N1.054 trillion, surpassing the original offer size by N304.18 billion. The demand was predominantly concentrated on the 364-day bill, accounting for approximately 96% of total subscriptions. The stop rate fell 22 basis points from 16.84% at the previous auction on September 2.
The 364-day bill's yield of 16.62% remains the most attractive return on the curve, despite the lower stop rate, attracting significant investor interest despite weak demand for shorter tenors. This easing trend underscores a broader rate-easing phase in Nigeria's fixed income market, signaling potential future interest rate adjustments as the Monetary Policy Committee (MPC) prepares for its upcoming meeting.
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