The Central Bank of Nigeria (CBN) has opened a fresh ₦1.5 trillion Open Market Operations (OMO) auction as it intensifies efforts to withdraw excess liquidity from the banking system amid growing cash balances and expectations of further inflows.
The auction, scheduled for Tuesday, November 10, 2026, offers ₦500 billion each across three instruments with maturities of 154 days, 252 days and 329 days.
The latest intervention comes as banks’ deposits with the CBN’s Standing Deposit Facility (SDF) reached ₦5.915 trillion on November 9, following a decline from ₦8.311 trillion recorded three days earlier.
Broader banking-system liquidity also increased by 15.36% week-on-week to ₦8.505 trillion as of November 6, highlighting the scale of excess cash available within the financial system.
The Financial Markets Dealers Association (FMDA) projects another ₦2.448 trillion in liquidity inflows during the week, with Open Market Operations maturities accounting for approximately ₦2.298 trillion, or 93.9% of the expected amount.
The CBN has already allotted approximately ₦5.667 trillion through OMO auctions conducted on November 3 and November 6, reflecting an increasingly aggressive approach to liquidity management.
The latest auction will test the central bank’s ability to absorb additional cash while managing short-term interest rates and maintaining monetary conditions.
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