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MarketNews
The Central Bank of Nigeria (CBN) allotted OMO bills to match the aggregate subscription from investors seeking high-yield naira assets at the primary market auction.
Nigerian deposit money banks (DMBs) placements at the Central Bank of Nigeria (CBN) Standing deposit Facility (SDF) window edged higher on midweek as the authority slowdown aggressive liquidity management action.
Excess liquidity in the Nigerian financial system surged about 33% after heavy OMO bill
Money market funding rates eased ahead of anticipated inflows of more than N2 trillion from NGOMOB, a financial market ticker prefix used for Open Market Operations (OMO) zero-coupon bills and short-term securities issued by the Central Bank.
The Debt Management Office (DMO) reduced rates on Nigerian Government bonds as the subscription level surpassed the offer size, according to details from auction results obtained.
Nigeria’s Debt Management Office (DMO) is set to offer N1.10 trillion worth of FGN bond maturities at the primary market auction on Monday.
The average yield on Nigerian government treasury bills increased as fixed-income market investors rebalanced their portfolios ahead of the inflation rate announcement.
Money market rates tightened amid a surplus of liquidity in the financial system, despite a significant outflow related to the settlement of auctioned OMOs and Treasury bills.
The Central Bank of Nigeria (CBN) turned down more than N2.4 trillion in investors’ money as total subscription at the open market operation topped N4.6 trillion, according to auction results reviewed by MarketForces Africa.