Central Bank of Nigeria Absorbs N1.5 Trillion Over Four Months to Support Naira

“Under Olayemi Cardoso’s Leadership, Central Bank of Nigeria Issues N1.5 Trillion in OMO Bills: BusinessDay Analysis”
“The Central Bank of Nigeria, under Governor Olayemi Cardoso, has issued a total of N1.5 trillion in Open Market Operation (OMO) bills, primarily focusing on long-tenured bills with maturities ranging from 180 to 365 days, according to a recent analysis by BusinessDay.”
“While there have been six auctions during Cardoso’s tenure, only five have contributed to the N1.5 trillion raised so far. The auction on Dec 22, 2023, saw no sales due to investors bidding excessively high, sources familiar with the matter revealed.”
“In November, sources also reported discretionary bids, further shaping the dynamics of the OMO bill issuance.”