At Thursday’s primary market auction, the Central Bank of Nigeria (CBN) sold OMO bills to investors at a spot rate of 24.36%. At the OMO auction, the CBN offered ₦500 billion in conventional maturities: 96-day, 194-day, and 362-day notes.
CardinalStone Securities Limited reported minimal demand, with only ₦252.90 billion offered for the longest-dated product in an emailed communication to investors.
The investing firm noted that investors’ wagers on CBN OMO bills resulted in a bid-to-offer ratio of 0.51x, with the stop rate set at 24.36%.
