CBN Sells N1.6trn OMO Bills, Prices 7-Day Tenor at 21.9%
The Central Bank of Nigeria (CBN) floated an additional OMO bill auction at the primary market to mop up excess liquidity in the financial system.
At the auction, the Apex Bank opened N600 billion OMO bills across 7- and 161-day tenors.
Subscriptions printed at N1.6 trillion as OMO bills continue to attract significant subscriptions from deposit money banks (DMBs) and foreign portfolio investors.
OMO bills with 7-day maturities attracted N409 billion in subscriptions. Also, OMO bills with 161 days’ maturity attracted N1.183 trillion versus a N300 billion offer size.
While the CBN allocated the total subscription received from 7-day OMO bills, it approved only N990 billion of the N1.182 trillion in bids on 161-day OMO bills.
The CBN allotted N1.4 trillion. The stop rates cleared at 21.90% for the 7-day tenor and 19.80% for the 161-day tenor. Money Market Rates Mixed as System Liquidity Falls by 38%

