Money market rates hovered near 30% on Thursday as the settlement of the Central Bank of Nigeria’s (CBN) open market operations (OMO) auction drained liquidity from the financial system. The apex bank offered ₦600 billion in OMO bills, attracting strong demand with bids totaling ₦2.17 trillion, and eventually allotted ₦1.25 trillion—further tightening system liquidity. Following … Continue reading OMO Outflows Squeeze Liquidity, Drive Money Market Rates To 30%