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CBN Treasury Bills raise strong demand amid inflation drop

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CBN Treasury Bills auction raises N4.86trn in Q1 2026 amid strong demand, inflation easing, and continued liquidity tightening

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The Central Bank of Nigeria (CBN) and financial market operators in Abuja on Monday, April 13, 2026, confirmed that the apex bank raised an estimated N4.86 trillion through Nigerian Treasury Bills (NTBs) in the first quarter of 2026, driven by strong investor appetite as market participants sought safety amid double-digit inflation pressures.

Also read: FCMB Achieves N288.96bn Capital Base Ahead of CBN International Banking Deadline

The performance reflects heightened activity in the CBN Treasury Bills auction market, even as total issuances declined by 12.2 per cent compared to the N5.54 trillion recorded in the corresponding period of 2025.

Primary market data showed exceptionally strong demand, with total subscriptions reaching N14.84 trillion, significantly exceeding the N4.73 trillion initially planned by the CBN for the quarter before the final N4.86 trillion issuance was concluded.

The CBN Treasury Bills auction continues to serve as a key monetary policy instrument used by the Central Bank to manage liquidity, absorb excess cash from the banking system, and moderate inflationary pressures across the economy.

In the review period, stop rates on short-term instruments reflected shifting monetary conditions.

The 91-day Treasury Bill rose to 15.95 per cent in March 2026 from 15.80 per cent in January 2026, while the 182-day bill moved from 18.6 per cent to 16.42 per cent over the same period, reflecting adjustments in response to market demand and policy direction.

Inflation, which stood at 15.06 per cent as of February 2026, showed signs of moderation, reinforcing expectations that monetary tightening measures are gradually filtering through the economy.

Analysts noted that the evolving yield environment is shaping investor behaviour across both fixed income and equity markets.

Market participants also observed that the CBN has been gradually adjusting discount rates on Treasury instruments in response to strong demand and shifting macroeconomic conditions, particularly as benchmark interest rates remain above headline inflation.

For the second quarter of 2026, the CBN plans to issue N3.95 trillion in Treasury Bills, with net issuance projected at N750 billion after maturing obligations of N3.2 trillion are settled.

The programme underscores continued reliance on the CBN Treasury Bills auction framework to manage liquidity and support monetary stability.

A significant feature of the upcoming issuance is the strong allocation to longer-dated instruments, with N2.85 trillion earmarked for 364-day bills.

The remaining issuance includes N700 billion in 91-day bills and N400 billion in 182-day bills, signalling investor preference for higher yields and longer tenors in a high interest rate environment.

The auction calendar indicates six sessions between April and June 2026, with issuances scheduled on April 8, April 22, May 6, May 20, June 3 and June 17.

These sessions will be matched with corresponding maturities totalling N3.2 trillion over the quarter.

Analysts say the dominance of 364-day instruments reflects a deliberate liquidity tightening strategy by the CBN, aimed at extending maturity profiles, reducing refinancing pressures, and stabilising short-term interest rates.

Commenting on market implications, financial analysts noted that sustained high yields could prompt portfolio reallocation from equities into fixed income instruments, particularly among institutional investors seeking risk-adjusted returns and capital preservation.

While concerns remain over potential equity market pressure, analysts also suggest that fundamentally strong dividend-paying stocks may retain investor interest as market participants adopt a more selective investment approach.

Also read: What Cardoso’s legacy at CBN would look like

Overall, the CBN Treasury Bills auction programme continues to play a central role in shaping Nigeria’s monetary landscape, balancing inflation control objectives with investor demand in a highly liquid but yield-sensitive financial environment.

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WEMA BANK SETS NOVEMBER 6 FOR HACKAHOLICS 7.0 GRAND FINALE, UNVEILS “FESTIVAL OF THE FUTURE” AS THEME

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Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has announced November 6, 2026, as the date for the grand finale of Hackaholics 7.0, its flagship innovation platform.

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Themed “Festival of the Future.” The grand finale will bring together innovators, technology leaders, startup founders, investors and other key players in Nigeria’s innovation ecosystem for an immersive celebration of ideas, technology and the possibilities shaping the future.

Beyond the much anticipated announcement of this year’s Hackaholics Finalists, the event will feature innovation showcases, interactive experiences and conversations exploring how emerging technologies are transforming the way people live, work, build and create.

Designed to go beyond the traditional innovation competition, the Festival of the Future will provide a platform for participants and attendees to experience emerging technologies, discover innovative solutions, connect with industry players and engage in conversations about the opportunities and challenges of a rapidly evolving world. The event will also recognise and celebrate outstanding innovators whose ideas have demonstrated the potential to address real-world challenges and create meaningful impact.

Speaking on the significance of the grand finale and the inspiration behind the Festival of the Future, Wema Bank’s MD/CEO, Moruf Oseni, explained that the concept builds on the Bank’s commitment to creating a future of possibilities while encouraging Nigerians to take a more active role in shaping that future.

“The world is changing at an unprecedented pace. Artificial intelligence and emerging technologies are transforming industries, businesses and everyday life, creating opportunities that would have been difficult to imagine just a few years ago. The question is no longer simply what the future holds, but how prepared we are to shape it.

“This thinking inspired the Festival of the Future. We want to create an experience that brings innovation closer to people, encourages meaningful conversations and challenges us to think differently about how we will live, work, build and create in the years ahead,” he said.

Reaffirming Wema Bank’s commitment to supporting innovation and empowering young Nigerians, Oseni noted that Hackaholics has continued to evolve beyond a competition into a platform for discovering talent, nurturing ideas and connecting innovators with opportunities.

“Since we launched Hackaholics, our goal has remained consistent; to provide young Nigerians with the platform, resources, opportunities and support they need to transform their ideas into practical solutions. We believe that the future of innovation in Nigeria must be driven by the talent, creativity and potential of our people.

“With Hackaholics 7.0, we are taking that commitment further. Beyond recognising outstanding ideas, we want to bring together the people, conversations and experiences that can inspire the next generation of solutions. Our ambition is to continue building an ecosystem where innovation thrives, possibilities are unlocked and Nigeria is better positioned for the future,” he added.

Launched on July 1, 2026, under the theme “Powering Possibilities,”Hackaholics 7.0 commenced with a nationwide pitch centre tour designed to discover and support innovative ideas from young Nigerians across different regions of the country.

The four-month tour attracted 5,329 participants and 1,632 innovative ideas and solutions, with pitch centres hosted across seven locations: Uyo, Kano, Yabatech, Benin, Ibadan, Enugu and Lagos.

Through three distinct tracks; the Ideathon, Hackathon and Social Impact, the initiative provided opportunities for students, graduates, technology enthusiasts, developers and social innovators to present solutions addressing challenges across different sectors. The Ideathon focused on promising ideas, the Hackathon provided a platform for technology developers and builders, while the Social Impact track recognised solutions designed to deliver measurable value to society.

At the conclusion of the nationwide tour, 59 participants emerged from the various pitch centres, reflecting the diversity of ideas, talent and innovation discovered throughout the programme.

As Hackaholics 7.0 progresses towards its final stage, the 59 finalists will be further shortlisted to 20, who will present refined versions of their solutions at the Pre-Pitch scheduled for November 4, 2026.

On November 5, the participants will embark on an Ecosystem Tour powered by Wema Bank, providing an opportunity to visit other top institutions within the technology and innovation ecosystem, interact with industry professionals and gain practical insights ahead of the grand finale.

The journey will culminate on November 6 at the Festival of the Future, where the top innovators will be recognised and celebrated.

Through Hackaholics, Wema Bank continues to demonstrate its commitment to driving innovation, supporting entrepreneurship and creating opportunities for young Nigerians to contribute meaningfully to economic development.

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Theparkpay Technologies Limited Strengthens Global Payments Infrastructure with UK FCA Licence

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Theparkpay UK FCA licence strengthens the fintech’s global payments infrastructure as it expands regulated cross-border services across key markets (more…)

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NDIC Commences Payment to Customers of 46 Failed Microfinance Banks

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NDIC payments to depositors begin as customers of 46 failed microfinance banks receive insured refunds of up to N2 million (more…)

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