CBN to Raise N600 billion via OMO Bills Subscription
The Central Bank of Nigeria (CBN) sets to open OMO bills worth N600 billion for subscription at the primary market auction ahead of inflation, and monetary policy meeting.
The primary market auction scheduled for Thursday is part of effort of the CBN to manage liquidity, and generated foreign currency inflows from offshore investors seeking to boost portfolio amidst elevated yield.
The OMO bills would be offer to high yield seeking fixed income market investors across two standard tenor, according to sources. The authority plan to raise N600 billion from OMO bills sales across two tenors, 355-day and 362-day, each worth N300 billion.
Analysts predict that subscription will remain strong, reflecting strong investors’ appetite for the naira asset, backed by an improved FX market conditions. In the secondary market, the average yield declined by 28bps to 26.6% in the OMO bill segment ahead of the auction.
Analysts said they expect investors to remain cautious tomorrow, ahead of the OMO auction. #CBN to Raise N600 billion via OMO Bills Subscription Oil Prices Rally as U.S Tariffs Raise Supply Risks
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