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CBN Raises N207billion from Resumed OMO Auction After Days of Lull

The Central Bank of Nigeria, CBN, on Monday, June 25, resumed the sale of treasury bills via Open Market Operations, OMO, after stalling the exercise for days.

During the OMO auction on Monday, the apex bank raised N207 billion from the 87-day and 213-day bills to moderate the excess liquidity in the system.

At the close of transactions, the T-bills market traded on a relatively flat note with yields compressing marginally by 0.04 percent on average.

According to experts at Zedcrest Research, the yields are expected to trend slightly lower in the near term as system liquidity remains relatively buoyant.

This is as market players anticipate renewed inflows from possible FAAC payments and expected OMO maturities later in the week.

“This should however be moderated by a continued OMO intervention by the CBN most likely on Thursday,” Zedcrest Research analysts said.

 

 

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