CBN Achieves N4.69 Trillion in OMO Bills Auction

On September 29, 2026, the Central Bank of Nigeria (CBN) conducted an auction where it sold approximately N4.686 trillion in Open Market Operations (OMO) bills, nearly double the N2.5 trillion initially offered and almost twice the N2.433 trillion that matured on the same day. Investors submitted total bids of N6.399 trillion across three instruments, with the newly introduced 266-day instrument attracting the majority of demand.

The auction included N500 billion in 147-day paper, N1 trillion in 182-day paper, and N1 trillion in 266-day paper, resulting in successful allotments exceeding the headline offer by about N2.19 trillion. The true yields for the instruments ranged between 18.41% and 18.53%.

The CBN's actions led to a significant liquidity withdrawal, absorbing approximately N2.253 trillion more than was injected through the OMO maturity. This auction marked a month of strong cumulative investor demand for CBN OMO auctions, raising questions about the CBN's liquidity absorption strategy moving into October.