The Central Bank of Nigeria (CBN) today floated a N2.5 trillion Open Market Operations (OMO) auction to almost exactly offset N2.433 trillion in maturities falling due same day.
Details of the offer:
– N500 billion in 147-day paper due February 23, 2027
– N1 trillion in 182-day paper due March 30, 2027
– N1 trillion in 266-day paper due June 22, 2027
Bidding closed at 10:30 a.m. today, Tuesday, September 29, 2026.
The move comes as banks already park more than N6.2 trillion at the CBN’s Standing Deposit Facility, showing excess liquidity in the system.
According to CBN market data, there is only a N66.7 billion gap between the fresh N2.5 trillion offer and the N2.433 trillion repayment — meaning the apex bank is effectively rolling over liquidity rather than injecting fresh cash.
Analysts say the massive sterilisation is aimed at taming inflation, stabilizing the naira, which closed at N1,382/$ in parallel market yesterday, and keeping money supply in check ahead of Q4 spending.
