CBN Closes N2trn OMO Bills Sales with Investors
The Central Bank of Nigeria (CBN) closed N2 trillion in OMO bills sales with foreign portfolio investors and deposit money banks at the primary market auction on Friday.
The monetary policy authority floated N600 billion across three short-term tenor bills to reduce excess liquidity in the financial system.
The auction was well received, with N2.1 trillion in OMO bill subscriptions across the 32-day, 116-day, and 137-day papers.
Investment banking firms reported that eventually, the CBN sold about N2.0 trillion at stop rates of 21.58%, 20.20% and 19.98%, respectively.










