OMO Bills: CBN Raises N4.7T from Investors as Subscription Hits N6.4T
The Central Bank of Nigeria (CBN) raised about N4.7 trillion (N4,686,266,639,000) from fixed-interest securities investors through OMO bill allotments across three maturities.
The CBN floated N2.50 trillion in OMO bills at auction to counter an elevated liquidity condition in the financial system following additional inflows from matured papers.
Total subscription received from yield-seeking fixed-income market investors amounted to N6,399,466,639,000, auction data obtained from the CBN revealed.
OMO Bills Auction Breakdown
The CBN offered OMO bills worth N500 billion for subscription at the auction on February 23, 2027. Subscription came in at N519.447 billion, and Apex Bank allotted N464.447 billion in OMO papers at a rate of 17.24%.
Nigerian OMO bills worth N1 trillion with a March 30, 2027 expiration date were floated for subscription at the same time. Reflecting healthy appetite, investors’ subscription came in at N1.337 trillion. The authority allotted N1.125 trillion for the paper at the spot rate of 16.94%.
Details from the auction results revealed that the CBN also opened Nigerian OMO bills with a June 22, 2027 subscription deadline, and investors’ bids came in stronger, reflecting an untamed appetite for longer-duration assets in the fixed-income market.
The Apex Bank sold N2.996 trillion worth of OMO bills with a 266-day tenor at a spot rate of 16.23%. The CBN conducted an OMO auction today, offering N2.5 trillion across the 147-day, 182-day, and 266-day maturities.
The auction was oversubscribed, attracting c.N6.4 trillion in total subscriptions, with the strongest demand recorded on the longest-dated bill.
Overall, the 147-day OMO bills tenor recorded a sale of N464.5 billion, while N1.2 trillion and N3.0 trillion were allotted on the 182-day and 266-day bills, respectively.
Stop rates settled at 17.24%, 16.94%, and 16.23% for the 147-, 182-, and 266-day bills, respectively. #OMO Bills: CBN Raises N4.7T from Investors as Subscription Hits N6.4T
