Primary Market
| Parameter | T.bills | OMO Bills |
|---|---|---|
| Tenor (days) | 91, 182, & 364 | Dependent on CBN’s Open-Market-Operations |
| Minimum Bid Volume (₦’mm) | 50 | |
| Auction System | Multiple-bid | Single-bid |
| Quote Basis | Discount | |
| Settlement | T+1 | T+0 |
| Settlement Platform/Agent | CBN | |
| Settlement Basis | Delivery v Payment | |
Note:
*Open-Market-Operations (OMO) bills are deemed perfect substitutes for treasury bills in the secondary market