CBN withdraws N3.46tn through OMO, T-bills
AI Executive Briefing
Verified Synthesis~54s readThe CBN allotted N2.95tn through OMO and N509.41bn through T-bills, bringing total allotments to approximately N3.46tn. The OMO auction accounted for about 85 per cent of the combined allotment, reflecting the central bank’s stronger absorption of liquidity through the instrument At the 3 November OMO auction, the CBN offered N1.5tn across 119-day, 126-day and 133-day instruments but received subscriptions of N3.52tn, representing 2.35 times the offer.
Context & Background
- ✦The apex bank allotted N2.95tn, with demand concentrated in the 133-day instrument, which attracted N2.36tn, accounting for about 67 per cent of total subscriptions.
Key Figures & Named Entities
4 November:The auctions, conducted on 3 and 4 November, attracted combined subscriptions of N5.57tn against offers of N2.3tn, according to results released by the apex bank.3 November:The OMO auction accounted for about 85 per cent of the combined allotment, reflecting the central bank’s stronger absorption of liquidity through the instrument At the 3 November OMO auction, the CBN offered N1.5tn across 119-day, 126-day and 133-day instruments but received subscriptions of N3.52tn, representing 2.35 times the offer.29 October:The sizeable allotment represented a sharp increase from the 29 October auction, when the CBN sold only N244.93bn despite receiving N2.28tn in bids.
Outlook & Next Steps
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Key Takeaways
Verified Extract- The CBN allotted N2.95tn through OMO and N509.41bn through T-bills, bringing total allotments to approximately N3.46tn.
- The OMO auction accounted for about 85 per cent of the combined allotment, reflecting the central bank’s stronger absorption of liquidity through the instrument At the 3 November OMO auction, the CBN offered N1.5tn across 119-day, 126-day and 133-day instruments but received subscriptions of N3.52tn, representing 2.35 times the offer.
- The apex bank allotted N2.95tn, with demand concentrated in the 133-day instrument, which attracted N2.36tn, accounting for about 67 per cent of total subscriptions.
Key Facts:4 November: The auctions, conducted on 3 and 4 November, attracted combined subscriptions of N5.57tn against offers of N2.3tn, according to results released by the apex bank.3 November: The OMO auction accounted for about 85 per cent of the combined allotment, reflecting the central bank’s stronger absorption of liquidity through the instrument At the 3 November OMO auction, the CBN offered N1.5tn across 119-day, 126-day and 133-day instruments but received subscriptions of N3.52tn, representing 2.35 times the offer.29 October: The sizeable allotment represented a sharp increase from the 29 October auction, when the CBN sold only N244.93bn despite receiving N2.28tn in bids.4 November: The 4 November T-bill auction also recorded strong investor demand, with subscriptions reaching N2.045tn against an offer of N800bn.
Editorial Excerpt
The Central Bank of Nigeria has withdrawn N3.46tn from the financial system through its latest Open Market Operations and Treasury bills auctions in Novemb
Frequently Asked Questions About This Story
What is the latest development regarding Central Bank of Nigeria?
The CBN allotted N2.95tn through OMO and N509.41bn through T-bills, bringing total allotments to approximately N3.46tn.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Central Bank of Nigeria, Debt Management Office.
What timeline or key figures were confirmed?
The auctions, conducted on 3 and 4 November, attracted combined subscriptions of N5.57tn against offers of N2.3tn, according to results released by the apex bank.
