{
  "id": 12289855,
  "title": "‘Why CBN mopped up N12.14trn cash in September’",
  "url": "https://urgent.news/2026/10/06/why-cbn-mopped-up-n12-14trn-cash-in-september",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T01:19:37.000Z",
  "source": {
    "name": "Daily Trust",
    "slug": "daily-trust",
    "url": "https://dailytrust.com/why-cbn-mopped-up-n12-14trn-cash-in-september/"
  },
  "original_language": "en",
  "account": "In September, the Central Bank of Nigeria (CBN) successfully mobilized N12.14 trillion in subscriptions for Open Market Operations (OMO) bills, despite yields remaining low. This robust demand was driven by several factors, including relatively high returns, the stability of the naira, broader market participation, and excess liquidity in the financial system.\n\nThe CBN used OMO as a monetary policy tool to control the supply of money in the economy. It sells OMO bills to investors, effectively removing funds from circulation for a period. The CBN achieved a remarkable response, with subscriptions being about 3.57 times the amount offered, and allotments exceeding the initial offer by more than twice.\n\nThe CBN had reduced the Monetary Policy Rate (MPR) by 350 basis points to 23%, and intensified liquidity management through OMO sales, which likely contributed to the high demand. Notably, the 180-day instrument saw an impressive N3.883 trillion bids, while the 266-day instrument attracted N4.543 trillion, accounting for about 71% of total subscriptions on September 29.\n\nExperts such as Ayokunle Olubunmi, Head of Financial Institutions’ Rating at Agusto and Co., noted that the expansion of participation in the OMO market, expansion of liquidity in the economy due to previous government financing, and improving macroeconomic conditions, also contributed to the strong demand. He further highlighted that the high demand for OMO bills is generally beneficial for the financial system, as these securities help the CBN manage excess liquidity effectively.",
  "summary": "Investors’ appetite for Open Market Operations (OMO) bills remained strong in September despite declining yields, with experts attributing the trend to relatively high returns, naira stability, broader market participation and excess liquidity in the financial system. Daily Trust reports that OMO is a tool used by a central bank to control the supply of money […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}