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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
The interest rate differential between Open Market Operations (OMO) and Nigerian Treasury bills has widened significantly, driven by the Central Bank of Nigeria’s (CBN) decisive actions to draw hot money into the economy.
Repo and overnight lending rates diverged as banks’ deposits at the Central Bank’s Standing Deposit Facility fell following the midweek Treasury bills auction.
Overnight lending rate fell, while repo rate stayed unchanged on the back of surplus money market liquidity, supported by activities of banks and primary market repayment.
Risk-off Sentiment Shifts Yields on Nigerian Treasury Bills Reflecting risk-off sentiment in the debt market,…
Money market analysts anticipate that robust primary market repayment of N2.4 trillion will play a pivotal role in strengthening liquidity in the financial system. This anticipated surge in liquidity is primarily driven by inflows from matured Open Market Operations (OMO) and Treasury bills.
Reflecting weak appetite for loans, deposit money banks (DMBs) significantly increased their placements at the Central Bank’s Standing Deposit Facility (SDF) window, reaching N6 trillion as of Thursday.