CBN's liquidity easing to inject N13.79tn into Nigeria's economy

In November 2026, Nigeria's financial system is projected to receive N13.79tn in liquidity inflows as the Central Bank of Nigeria (CBN) moderates its Open Market Operations (OMO) interventions. This represents a 2.16 per cent increase from the N13.50tn recorded in October.

The inflows are attributed to higher maturities of government securities, Federation Account Allocation Committee (FAAC) disbursements, and coupon payments. The Financial Markets Dealers Association (FMDA) reported total expected inflows of N13.787tn, a rise of approximately N292bn from the previous month.

The largest contribution to these inflows is expected from OMO maturities, accounting for N8.927tn, or 64.75 per cent of the total. FAAC allocations are projected at N2.50tn, while Treasury Bills maturities are expected to contribute N1.919tn.

The liquidity outlook follows a shift in the CBN's approach, with a notable increase in banking system liquidity, which rose by 56.75 per cent to N7.373tn in October.