March 5, 2026/Cordros Update
At yesterday’s NTB primary market auction, the DMO offered NGN1.05 trillion across tenors, with total demand reaching NGN2.34 trillion, translating to a bid-to-offer ratio of 2.2x. The DMO ultimately allotted NGN1.01 trillion, implying a bid-to-cover ratio of 2.3x. Stop rates increased on the 91-Day tenor by 15bps to 15.95% and on the 364-Day tenor by 83bps to 16.73%, while the 182-Day tenor remained unchanged at 16.65%.
Please see the results below
