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MarketNews
Excess liquidity in the Nigerian financial system surged about 33% after heavy OMO bill
The Central Bank of Nigeria (CBN) is scheduled to open Nigerian Treasury bills worth N700 billion across standard tenors at the primary market auction on Wednesday.
The Central Bank of Nigeria (CBN) sold OMO bills worth N7.30 trillion in May 2026 as part of efforts to manage liquidity levels in the financial system.
Money market liquidity topped N6 trillion at the close of the trading session last week despite a substantial rise from the open market operation conducted by the Apex Bank.
The average yield on Nigerian Treasury bills eased slightly by 6 basis points (bps) week on week to 17.51% on Friday, as deposit money banks and other portfolio managers remain bullish.
Excess liquidity in the banking system, which peaked above N6 trillion, shrank due to outflows relating to the settlement of OMO and Nigerian Treasury bills sold at the primary market auctions.
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