CBN Sells OMO Bills to Investors at 24.36% Interest Rate
The Central Bank of Nigeria (CBN) sold OMO bills at the spot rate of 24.36% to investors at the primary market auction on Thursday. t the OMO auction, the CBN offered ₦500 billion across standard maturities, which are 96-day, 194-day, and 362-day papers.
However, demand was weak, with offers totaling ₦252.90 billion only seen for the longest-dated instrument, CardinalStone Securities Limited told investors in an emailed note.
The investment firm explained that bets on CBN OMO bills by investors resulted in a bid-to-offer ratio of 0.51x, with the stop rate settling at 24.36%. #CBN Sells OMO Bills to Investors at 24.36% Interest Rate
