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    Wednesday, May 20
    Financial Market

    CBN OMO Bills Auction Attracts N5.9 trillion in Subscription

    Olu AnisereBy Updated:No Comments1 Min Read
    CBN OMO Bills Auction Attracts N5.9 trillion in Subscription
    Yemi Cardoso, CBN gov

    CBN OMO Bills Auction Attracts N5.9 trillion in Subscription

    The Central Bank of Nigeria (CBN) open market operation (OMO bills) attracted significant subscription from deposit money banks (DMBs) and foreign portfolio investors (FPIs).

    The eligible market participants staked N5.9 trillion on short-term investment securities, which was more than the amount bet on the short-term bills rejected by the authority on Tuesday.

     As part of efforts to absorb excess liquidity in the financial system, the monetary authority floated OMO bills worth N600 billion for subscription on Thursday.

    The authority had rejected N4.9 trillion subscription received from investors that bid for OMO bills on Tuesday, with zero allotment.

    The CBN turned down the amount, although more than N2 trillion OMO bills was due for repayment. The refusal to mop up excess liquidity on Tuesday boosted excess funds in the banking system above N6 trillion.

    The money market excess liquidity, however, reduced on Thursday following OMO sales totalling ₦3.79 trillion, according to AIICO Capital Limited. #CBN OMO Bills Auction Attracts N5.9 trillion in Subscription After Spot Rates Hike, DMO Reopens 7, 10-Year Bonds for Sale

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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