CBN Offers 19.84% Interest on Nigerian OMO Bills
The Central Bank of Nigeria (CBN) sold OMO bills worth N827 billion to deposit money banks (DMBs) and foreign portfolio investors (FPIs) who participated in its open market operation.
Amidst a sharp decline in the financial system liquidity this week, the Apex Bank floated N600 billion across two maturities on Tuesday. The offer size floated was for Nigerian OMO bills that will expire in 196 days and 252 days respectively.
Demand was strong, with total subscriptions coming in at N1.1 trillion, reflecting sustained demand for the naira assets with special spot rates pricing. Out of the amount staked on the offer size, the CBN allotted Nigerian OMO bills worth N827.0 billion, while the remaining subscription was rejected.
The stop rates settled for 196 days OMO bills was priced at 19.50% at the auction. The Nigerian OMO bills with 252 days maturity was allotted to investors at the spot rate of 19.84%.
#CBN Offers 19.84% Interest on Nigerian OMO Bills US 10-Year Treasury Yield Falls as Shutdown Reaches 15 Days
