CBN Allots N655bn OMO Bills to Market Participants
The Central Bank of Nigeria (CBN) allotted N655 billion in open market operation (OMO) bills to market participants at the primary market auction conducted to refinance N1.14 trillion in maturing bills.
At the primary market auction, the CBN offered N500.0 billion across two long-end maturities, attracting strong demand, with the bid-to-offer ratio printing at 1.5x—reflecting healthy appetite for naira assets.
MarketForces Africa reported that OMO bills worth N1.14 trillion matured on Tuesday, and the monetary authority chose to refinance part of the amount via fresh issuance at the main auction on Tuesday.
The OMO auction offered to investors was split into two maturities: 182 and 210 days, according to analysts’ notes, and it attracted significant attention from the market participants.
The CBN offered N500 billion to market participants—foreign portfolio investors and local deposit money banks. Total demand reached ₦743.25 billion at the auction.
The CBN allotted ₦655.25 billion to market participants across two maturities. OMO bills maturing in 182 days was offered at 23.77%, while OMO bills maturing in 210 days was priced at 23.98%. #CBN Allots N655bn OMO Bills to Market Participants LCCI Urges CBN to Indicate Cautious Future Rate Cuts
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