The Central Bank of Nigeria is conducting an Open Market Operation auction today, offering N1.5 trillion in securities as banking-system liquidity remains elevated above N5.9 trillion. The offer is split equally into N500 billion each across 154-day, 252-day and 329-day maturities.
This is the third OMO auction held between November 3 and November 10, underscoring the apex bank's aggressive effort to absorb excess cash. The Financial Market Dealers Association projects a further N2.448 trillion will enter the banking system this week.
According to the FMDA weekly market report published on Monday, November 9, 2026, banking-system liquidity rose 15.36% week-on-week to N8.505 trillion as at the close of trading on Friday, November 6, up from N7.373 trillion the preceding week.
OMO maturities dominate the expected weekly inflows. The FMDA puts total inflows at N2.448 trillion, down roughly N162 billion, or 6.21%, from N2.610 trillion in the prior week. Key components include:
- OMO maturities of N2.298 trillion, up 13.99% from N2.016 trillion, representing about 93.9% of total expected inflows. - Treasury Bills maturities projected at N148.565 billion, a decline of 73.89%. - Corporate bond coupon payments of N1.707 billion, down 86.75%. - No inflows expected from commercial paper maturities, FGN bond coupons, FGN bond maturities or Federation Account Allocation Committee distributions.
CBN financial data showed banks held N5.915 trillion at the Standing Deposit Facility on November 9, down from N8.311 trillion on November 6 following OMO settlements.
The CBN has already raised about N5.667 trillion through OMO auctions on November 3 and November 6, equal to 91.7% of the N6.182 trillion allotted in October. On November 3, the CBN offered N1.50 trillion, received N3.52 trillion in subscriptions and allotted N2.95 trillion, with stop rates of 17.77%, 17.71% and 17.67% for the 119-day, 126-day and 133-day tenors. On November 6, it offered another N1.50 trillion, attracted N5.74 trillion and allotted N2.72 trillion, with stop rates of 17.25%, 16.54% and 15.74% for the 179-day, 270-day and 361-day instruments.
