CBN Launches N1.5 Trillion OMO Auction Amid Liquidity Surge

The Central Bank of Nigeria (CBN) is today conducting an Open Market Operations (OMO) auction targeting to sell N1.5 trillion in bills as a fresh wave of liquidity has pushed banking system cash balances above N5.9 trillion. This aggressive move aims to sterilise significant excess funds from commercial banks, countering inflationary pressures and strengthening the naira.