May 6, 2026/Cordros Update
At today’s NTB primary market auction, the DMO offered NGN700.00 billion across tenors, with total demand reaching NGN2.41 trillion, translating to a bid-to-offer ratio of 3.4x. The DMO ultimately allotted NGN731.75 billion, implying a bid-to-cover ratio of 3.3x. Stop rates fell by 5bps to 16.14% and 16.15% for the 182- and 364-day tenors, respectively, but stayed unchanged at 15.95% for the 91-day tenor.
Please see the results below
