CBN Approves N2.2trn OMO Bills Allotment to Investors
The Central Bank of Nigeria (CBN) raised N2.2 trillion from OMO bill sales to investors as part of efforts to reduce excess liquidity in the financial system and refinance maturing papers.
System liquidity opened the week in a strong surplus position of ₦4.97 trillion, reflecting a ₦181.77 million increase supported by inflows from repayments and placements at the CBN’s standing deposit, lending facilities, investment firm AIICO Capital said in a note.
On Tuesday, the CBN conducted an open market operation in which N600 billion worth of OMO bills were offered for subscription, targeting foreign portfolio investors and deposit money banks.
The total offer of N600.0 billion was split across 7-day, 63-day, and 140-day OMO instruments. Reflecting investors’ appetite for elevated yield, total subscriptions amounted to N2.6 trillion.
Eventually, the CBN allotted a total of N2.2 trillion, with the longest-dated paper fully sold at stop rates of 21.90%, 19.88%, and 19.91%, respectively. GTCO Gains as 2025 Dividend, Payout Ratio Attract Investors
