Market participants overbuy CBN N1 trillion OMO Bills

The Central Bank of Nigeria (CBN) has successfully concluded the sale of government securities following the issuance of 680 million dollars in short-term instruments.
A statement issued on Sunday night by CBN’s Acting Director, Corporate Communications Department, Hakama Sidi-Ali, stated that the sale was part of its liquidity management exercise.
Sidi said that the apex bank’s N500 billion-offer at the Open Market Operations (OMO) auction was oversubscribed after selling 1.053 trillion Naira, with 79 percent of the total bids, or the equivalent of 530 million dollars coming from foreign investors