CBN Offers 24.59% on OMO Bills, Raises N1.07trn from Investors
UPDATED: As part of its liquidity management efforts, the Central Bank of Nigeria (CBN) conducted open market operations (OMO) where N600 billion worth of bills were offered to investors across two tenors. The authority raised N1.07 trillion with minimal rejection ahead of huge OMO bills maturing on Tuesday.
The authority floated its auction on Monday to keep the liquidity level in the money market in check, as N985 billion in inflows from OMO bills will mature on Tuesday. The Apex Bank opened N600 billion worth of Nigerian OMO bills for subscription, but banks’ and foreign portfolio investors’ stakes came higher, supported by strong appetite for naira assets as the inflation rate declined.
Details from the auction revealed that investors doubled down on the amount offered across a 155-day and 204-day instrument. Out of N1.15 trillion total subscriptions placed by eligible investors, the CBN sold a total of N1.07 trillion, with stop rates printing at 24.20% and 24.59% for the respective tenors.
The market is expecting inflows from OMO maturities totaling N985.88 billion on 17th June 2025, in addition to N27.19 billion in inflows from Nigerian Treasury bills that will mature on 19th June 2025.
In the secondary market, trading activities kicked off the week on a quiet note, with most attention focused on the day’s OMO auction. Activities in the OMO bill segment in the secondary market also cool off. #CBN Offers 24.59% on OMO Bills, Raises N1.15trn from Investors
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