The Central Bank of Nigeria (CBN) has again turned to open market operations (OMO) to manage liquidity, offering N300 billion worth of 83-day bills to investors on Wednesday.
Coming just a day after a successful auction, the apex bank floated another single-tenor issuance at the primary market, attracting robust participation from foreign portfolio investors and domestic banks.
The result was oversubscription nearly three times the offer size, with the bid-to-offer ratio standing at 2.9x. Ultimately, the CBN allotted a total of N842.5 billion in OMO instruments, with investors settling at a stop rate of 26.49%.
The strong demand reflects growing appetite for short-term naira assets as investors continue to respond to CBN’s tightening stance and higher yield environment.
Analysts say the sustained OMO interventions highlight the apex bank’s determination to mop up excess liquidity while anchoring inflation expectations and stabilizing the foreign exchange market.
 has again turned to open market operations (OMO) to manage liquidity, offering N300 billion worth of...){kind=link}