CBN to Open N600bn Worth of OMO Bills for Subscription
The Central Bank of Nigeria (CBN) has notified authorised market participants about the plan to conduct a fresh open market operation on June 2, 2025. The issuance will be offered across two mid tenors to reduce excess liquidity and part-finance OMO bills instrument maturing a day after.
Details obtained by MarketForces Africa showed that the CBN planned to issue OMO bills worth N600 billion on Monday after two issuances with a combined allotment of over N1.6 trillion last week.
The CBN has continued to keep eyes on the liquidity level in the money market to channel the short-term interest rate benchmark direction. June is expected to have less liquidity, with a total of N2.1 trillion in inflows from maturing instruments as against N3.5 trillion in May.
System liquidity is expected to tighten significantly in the new week, driven by the CBN’s scheduled ₦600 billion OMO auction on June 2 (106-day and 232-day tenors). The market saw two OMO auctions last week. The CBN conducted two open market operations where it offered N600 billion to foreign portfolio investors and banks.
The OMO auctions attracted strong interest, with ₦1.146 trillion and ₦687.13 billion in bids, leading to allotments of ₦1.127 trillion and ₦482.33 billion, respectively. #CBN to Open N600bn Worth of OMO Bills for Subscription#
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