A massive liquidity glut has sparked a frenzy in the Nigerian Treasury Bill market, prompting investors to aggressively front-load their portfolios as a yield retreat looms. With the financial system awash in cash, market players are grabbing the 20 percent yields now, anticipating that returns will slide significantly later in the year. The intensity of this demand was on full display during the February 4, 2026, Primary Market Auction (PMA). The auction recorded a total subscription of N4.59 trillion, nearly four times the N1.15 trillion i
A massive liquidity glut has sparked a frenzy in the Nigerian Treasury Bill market, prompting investors to aggressively front-load their portfolios as a yield retreat looms. With the financial system awash in cash, market players are grabbing the 20 percent yields now, anticipating that returns will slide significantly later in the year. The intensity of this demand was on full display during the February 4, 2026, Primary Market Auction (PMA). The auction recorded a total subscription of N4.59 trillion, nearly four times the N1.15 trillion i