The Central Bank of Nigeria (CBN) is about to boost a complete of N825 billion from the home debt market within the last spherical of sovereign issuances for 2025, underscoring the Federal Authorities’s continued reliance on native funding amid elevated yields.
The deliberate increase is cut up between N460 billion in Federal Authorities of Nigeria (FGN) bonds and N365 billion in Treasury Payments (T-bills).
Nonetheless, the CBN acknowledged in its issuance discover that it reserves the precise to fluctuate the quantity on provide in keeping with prevailing market realities, a flexibility that would affect last allotments.
Bond public sale: N460 billion on provide
The CBN, on behalf of the Debt Administration Workplace (DMO), will provide N460 billion equally cut up throughout two long-dated papers comprising a reopening of the N230 billion 17.945% FGN August 2030 bond and one other N230 billion within the 17.95% FGN June 2032 bond.
The public sale is scheduled for Monday, December 15, 2025, with settlement two days afterward December 17.
On the earlier auctions, the August 2030 paper cleared at a cease price of 15.90%, whereas the June 2032 bond was cleared at 16.00% cease price.
Market steerage pegs the anticipated cease price at 17.30–17.50% for the 2030 bond and 17.40–17.60% for the 2032 paper, reflecting present pattern of rising yields throughout longer dated tenors.
T-bills sale: N365 billion throughout three tenors
Along with the bond public sale, the CBN may also conduct a Treasury Payments public sale on Thursday, December 18, 2025, focusing on N350 billion. The issuance can be unfold throughout the quick finish of the yield curve, with N100 billion every provided on the 91-day and 182-day tenors, and N165 billion on the 364-day invoice.
The public sale can be carried out by way of the Dutch public sale system, with bids to be submitted by means of the CBN’s S4 net interface between 8:00 a.m. and 11:00 a.m. on Wednesday, December 17, 2025. Every bid have to be in multiples of N1,000, topic to a minimal subscription of N50.001 million. Profitable bidders can be required to settle their obligations by 11:00 a.m. on Thursday, December 18.
What it is best to know
- This December newest Payments auctions through which the CBN has mandated using its Safe Software program for Settlement System (S4) marks the second try to activate using the digital interface following ongoing reforms within the administration of presidency securities.
- On the November 20, 2025, auctions, the place the CBN raised over N700 billion, the apex bank activated for the primary time the necessary use of its S4 digital interface for T-bills submissions.
- The coverage shift is aimed toward tightening management over main market flows, curbing value distortions, lowering data asymmetry and bettering transparency within the public sale course of.
- Nonetheless, the apex bank suspended using S4 in subsequent issuances till now. Nairametrics gathered from a really dependable supply near CBN that the monetary system reform can be concluded by this December, after which the S4 system can be absolutely operational.
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