The Central Bank of Nigeria (CBN) has issued 84-day Open Market Operation (OMO) bills at a spot rate of 26.44%, according to results from Tuesday’s auction.
The offering comes as a set of maturing bills approach expiration this week, a move expected to address rising liquidity levels within the banking sector.
To curb excess liquidity and stimulate dollar inflows from foreign portfolio investors, the apex bank offered ₦600 billion in the auction. Market appetite was strong, with bids amounting to ₦1.2 trillion, but only ₦620.7 billion was eventually allotted at a stop rate of 26.44%.
This comes shortly after the CBN floated ₦700 billion worth of OMO bills in two primary market auctions, raising about ₦1.19 trillion across short-term tenors at comparatively higher interest rates.
 has issued 84-day Open Market Operation (OMO) bills at a spot rate of 26.44%, according to results....){kind=link}