Officials at the APEX Bank are denying reports that they plan to unwind OMO Sales.
In the meantime, liquidity in the Nigerian banking system is said to be below N100 billion
In Nigeria, one of the monsters that need to be faced head-on is the regime of high-interest rates and its effects on the growth of the...
A further decline in the interbank lending rates is expected as N405 billion treasury bills matured to boost liquidity.
Last week, the local bourse sustained its lacklustre performance as the All Share Index shed 0.04% w/w to settle at 26,526.35 points.
CBN has published its Treasury Bills programme for January–March 2020, indicating that it planned to raise about ₦847.4 billion in cash.
The CBN has ordered all commercial banks and other financial institutions to ensure treasury bills are not sold to individuals and small firms.
The CBN's restriction of OMO to only foreign investors and Nigerian banks could end up providing a welcome boost to the Nigerian Stock Exchange.
The CBN has directed all banks to exclude individuals and local corporates from investing in OMO auctions with effect from October 23, 2019.
