The Central Bank of Nigeria (CBN) has increased interest rates on Treasury Bills (TBs), pushing returns above the country’s current inflation rate of 16.05%.

• 364-day TBs: 17.50% (up from 16.04%)
• 182-day TBs: 15.50% (unchanged)
• 91-day TBs: 15.30% (unchanged)

At the latest auction, the CBN offered N700 billion in TBs across all tenors, receiving subscriptions totaling N775 billion, reflecting strong investor demand, particularly for the longest tenor, which accounted for about 90% of bids.

The move follows the central bank’s decision to maintain the policy rate at 27%, aimed at attracting investment in naira assets, boosting yields for investors, and managing inflationary pressures in the economy.