CBN Sells N2.6tn OMO Bill to Investors at 19.39% for 245-Day
The Central Bank of Nigeria (CBN) floated an open market operation where N600 billion worth of bills were offered to foreign portfolio investors and deposit money banks, the eligible market participants.
The move came as N1.3 trillion in OMO bills expired, but the Apex Bank raised more than the amount above aggregate repayment for Jan 2026 bills that expired.
Meanwhile, the main auction recorded significant subscription levels amidst rising appetite for the naira asset with elevated yields across the short, belly, and long ends of the curve.
Fixed income market analysts attributed significant subscription to surplus liquidity in the financial system. The banking system opened the day on a significantly improved surplus balance of ₦3.77 trillion, reflecting an increase of N1.53 trillion from the previous day’s open.
The auction results showed that the authority allotted N2.64 trillion for investors who sought to invest in 203-day and 245-day tenors. The CBN offered a spot rate of 19.38% for 203-day OMO bills and 19.39% for 245 days.
In the secondary market, trading activity on OMO bills was subdued as investors shifted attention to the primary market auction. The average yield was steadied at 23%, significantly ahead of the headline inflation rate. Skyway Aviation Soars to New High, Earnings Reignites Bargain Hunting
