CBN Sells ₦1.3trn in OMO Bills to Drain Excess Liquidity
The Central Bank of Nigeria (CBN) moved aggressively into the money market on Monday, selling ₦1.3 trillion worth of Open Market Operation (OMO) bills to mop up excess liquidity estimated at over ₦4 trillion. The apex bank had initially offered ₦600 billion across two short-term maturities, February 24 and May 26, with ₦300 billion apiece. […]