Storyline
CBN OMO Drain Tightens Liquidity
Timeline
- Tue, Sep 1LatestUnverified — not yet reviewed
CBN Withdraws N4.72 Trillion via OMO Auctions, Signalling Continued Tight Monetary Stance
Nigeria's Central Bank has withdrawn N4.72 trillion from the banking system through open market operations, with investors drawn by yields approaching 20 percent. The liquidity drain signals a continued tight monetary policy stance and is expected to raise funding costs for fintech operators in Nigeria.
- Mon, Aug 31Unverified — not yet reviewed
CBN Drains N4.72 Trillion via OMO Sales at Near-20% Yields
Nigeria's Central Bank mopped up N4.72 trillion through open market operations over two days, with investors drawn by yields approaching 20 percent. The liquidity drain is expected to raise funding costs for fintechs and startups operating in Nigeria's financial system.