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    MarketForces Africa » Uncategorized » CBN Sells OMO Bills to Investors at 24.36% Interest Rate

    CBN Sells OMO Bills to Investors at 24.36% Interest Rate

    Julius AlagbeBy Julius AlagbeSeptember 26, 2024Updated:September 26, 2024 Uncategorized No Comments1 Min Read
    CBN Sells OMO Bills to Investors at 24.36% Interest Rate
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    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

    Naira Rises against US Dollar Ahead of Sept. FX Auction

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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