CBN Exceeds OMO Bills Offer by N628.52 Billion
On October 22, 2026, the Central Bank of Nigeria (CBN) conducted an auction for Open Market Operations (OMO) bills, selling N2.628 trillion, which exceeded its initial offer of N2 trillion by N628.52 billion, or 31.43%. Investors submitted bids totaling N2.728 trillion, indicating a demand of 1.36 times the amount offered.
The 180-day bill received the majority of demand, with N1.773 trillion allotted against an initial N1 trillion offer, attracting subscriptions of N1.853 trillion. Conversely, the 138-day bill was undersubscribed, with N875.24 billion in subscriptions against a N1 trillion offer, leading to an allotment of N855.24 billion.
The stop rates for the 138-day bill ranged from 17.18% to 17.72%. The auction results showed higher stop rates compared to the previous auction on October 6, suggesting a pause in the recent downward trend of OMO stop rates following a 350-basis-point rate cut announced by the CBN's Monetary Policy Committee in September.
The auction occurred amidst significant banking system liquidity and maturing CBN securities.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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