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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
Interbank rates were mixed last week as banking system liquidity declined by approximately 21% to close at about N3 trillion.
Nigerian Treasury bill yields slipped as investors moved newly issued papers into the secondary market following more than N2.4 trillion in subscription rejections at the midweek auction.
Short-term benchmark interest rates diverged as banking system liquidity balance declined sharply
The Nigerian money market rates closed mixed on Wednesday as financial system liquidity declined by 38% on the day due to the settlement of the OMO bills auction.
The Central Bank of Nigeria (CBN) further chopped the discount rate on Nigerian Treasury bills
The Central Bank of Nigeria (CBN) floated an OMO bill auction totalling N600 billion across three tenors on Tuesday amidst excess liquidity in the financial system.