 absorbed about N6.88 trillion from the financial system through Open Market Operations (OMO).){kind=link}
CBN Withdraws N6.88trn via OMO in Two Weeks
The Central Bank of Nigeria (CBN) absorbed about N6.88 trillion from the financial system through Open Market Operations (OMO) in the first two weeks of June 2026, according to data released June 11.
The liquidity mop-up represents roughly 63% of projected inflows for June, estimated at N10.90 trillion, with maturities of OMO bills alone expected to contribute N7.77 trillion, raising concerns about excess liquidity and inflationary pressures.
Data showed investor demand was strongest for long-tenor OMO instruments (130+ days), while shorter-tenor bills attracted weaker interest despite higher stop rates.
The CBN conducted auctions on June 2, 8, and 11, with total subscriptions exceeding N7.2 trillion. Stop rates ranged between 19.98% and 21.89%, reflecting elevated yields despite strong demand.
One auction on June 2 saw subscriptions of N2.48 trillion for a 133-day bill, more than 12 times the amount offered. The CBN eventually allotted N2.41 trillion, marking the largest liquidity withdrawal in the period.
Analysts noted that despite the aggressive mop-up, liquidity remains high. In May, the CBN withdrew N12.06 trillion, yet average system liquidity still rose to N5.22 trillion.
Projected inflows for June include FAAC disbursements of N1.80 trillion and Treasury bill maturities near N1 trillion, suggesting further injections that may require additional sterilisation measures.
Market participants expect the CBN to maintain an active presence in the money market throughout June to manage liquidity and curb inflationary risks.