September 23, 2026/Cordros Update
At today’s NTB primary market auction, the DMO offered NGN600.00 billion across tenors, with total demand reaching NGN4.23 trillion, translating to a bid-to-offer ratio of 7.1x.
The DMO ultimately allotted NGN497.58 billion, implying a bid-to-cover ratio of 8.5x. Stop rates contracted by 80 bps, 70 bps and 73bps to 15.50%, 15.80% and 15.89% for the 91-, 182- and 364-day tenors, respectively.
Please see the results below
